Impact of coronavirus on energy markets

14-04-2020

The coronavirus pandemic (COVID-19) has had a strong impact on global energy markets, contributing to a collapse in the oil price as well as lower prices for other fossil fuels. Global shutdowns of economic activity have led to sharply reduced energy consumption and lower greenhouse gas (GHG) emissions. In the short term, coronavirus will negatively affect new energy investments in all sectors, including renewables needed for the clean energy transition. The longer term impact is more uncertain and very much hinges on the nature and speed of the economic recovery, as well as the differing responses of global policy-makers to this challenge.

The coronavirus pandemic (COVID-19) has had a strong impact on global energy markets, contributing to a collapse in the oil price as well as lower prices for other fossil fuels. Global shutdowns of economic activity have led to sharply reduced energy consumption and lower greenhouse gas (GHG) emissions. In the short term, coronavirus will negatively affect new energy investments in all sectors, including renewables needed for the clean energy transition. The longer term impact is more uncertain and very much hinges on the nature and speed of the economic recovery, as well as the differing responses of global policy-makers to this challenge.