Summary
[International Energy Agency: Energy crisis may threaten global economic recovery]Recently, oil and natural gas prices have soared to multi-year highs. At the same time, energy shortages are widespread in Asia and Europe, causing electricity prices to hit record highs. In its latest monthly oil report on the 14th, the International Energy Agency stated that due to coal and natural gas prices soaring to record highs, coupled with rotating power outages, it is prompting the power industry and energy-intensive industries to switch to oil to maintain smooth power supply and operations. The energy crisis is expected to increase oil demand by 500,000 barrels per day. The International Energy Agency said that next year’s global oil demand is expected to return to the level before the epidemic.
Recently, oil and natural gas prices have soared to multi-year highs. At the same time, energy shortages are widespread in Asia and Europe, causing electricity prices to hit record highs.
The International Energy Agency stated in its latest monthly oil report on the 14th that coal and natural gas prices have soared to record highs, coupled with rotating power outages, which are promptingPower IndustryAnd energy-intensive industries are turning to oil to keep electricity supply and operations smooth. The energy crisis is expected to increase oil demand by 500,000 barrels per day. The International Energy Agency said that next year’s global oil demand is expected to return to the level before the epidemic.
(Source: Securities Times Net)
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