Covid-19 upended the energy markets last year, with natural gas proving to be resilient while renewables continued to surge, according to BP plc.

The 70th edition of BP’s Statistical Review of World Energy 2021 issued on Thursday revealed a global energy market that transformed in 2020 unlike any year in history. Primary energy and carbon emissions fell at their fastest rates in more than 75 years, the analysis indicated.

“Global energy demand is estimated to have fallen by 4.5% in 2020,” CEO Bernard Looney said. “This is the largest recession since the end of World War II, driven by an unprecedented collapse in oil demand, as the imposition of lockdowns around the world decimated transport-related demand…

“Natural gas showed greater resilience, helped primarily...