Electricity consumption in Brazil should increase by an average 3.5%/year over the 2021-2031 period

World oil demand growth in 2021 is revised lower by around 0.16 mb/d, compared to last month’s assessment, to stand at 5.7 mb/d.

This year, demand for petroleum, both in the United States and globally, has largely returned to the pre-pandemic levels in 2019. Demand has grown faster than supply, reducing inventories and contributing to higher prices for crude oil and petroleum products.

"About 50% of the incremental global natural gas demand will come from Asia by 2035, with China and India as the main engines to boost the development of the LNG market," Luo said.

The global power market is experiencing rapid power demand growth as markets recover from the pandemic.

As per the recently released, World Energy Outlook 2021, IEA forecasts that’s India's power demand is slated to nearly treble to 5000 TWh by 2050, let primarily by renewable sources of energy.

Non-OECD countries in Asia will collectively become the largest importers of natural gas by 2050.

World oil demand is estimated to increase by 5.8 mb/d in 2021, revised down from 5.96 mb/d in the previous month’s assessment.

This scenario also sees an accelerating pace of change in the power sector, sufficient to realise a gradual decline in the sector’s emissions even as global electricity demand nearly doubles to 2050.

The steep rise in European gas prices has been driven by a combination of a strong recovery in demand and tighter-than-expected supply, as well as several weather-related factors.