Energy & Science
Global Energy Demand Growth Was Slowing Before Covid-19, Says BP
- Rate of growth in primary energy consumption halved in 2019
- BP writes in its annual Statistical Review of World Energy
Photographer: Greg Baker/AFP via Getty Images
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Growth in energy demand was declining even before the coronavirus pandemic spread globally, keeping consumers under lockdown and sending prices to record lows, BP Plc said Wednesday.
The oil major’s annual Statistical Review of World Energy showed that growth in primary energy consumption slowed to 1.3% in 2019, almost half the rate of a year earlier. Renewable energy comprised the bulk of that growth, overtaking nuclear in its share of power generation for the first time, while coal consumption continued to decline, falling to its lowest level in 16 years.