Amid the deep disruption and uncertainty caused by the Covid-19 pandemic, global energy demand is set to drop by 5% in 2020, with oil and gas investments falling by an estimated 18%, and the pain could linger into 2023 depending on whether the virus is controlled, according to the International Energy Agency (IEA).

fuel supply

The global energy watchdog on Tuesday issued its flagship World Energy Outlook 2020 (WEO-2020), with the pandemic overtaking all energy demand scenarios over the coming 10 years. 

“The Covid-19 crisis has caused more disruption than any other event in recent history, leaving scars that will last for years to come,” researchers said. “But whether this upheaval ultimately helps or hinders efforts to accelerate clean energy transitions and reach international...