May 16, 2021

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International Energy Agency: Global energy demand will grow by 4.6% in 2021

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The International Energy Agency, headquartered in Paris, France, released the “2021 Global Energy Review” report on the 20th. It predicts that global energy demand will increase by 4.6% in 2021, and global energy-related carbon dioxide emissions will increase by 4.8%, close to Peak from 2018 to 2019.

According to the report, in 2020, affected by the coronavirus epidemic, global energy demand will drop by 4%, the largest drop since World War II. The latest statistics on global energy demand in the first quarter of this year show that the epidemic continues to affect energy demand. However, the International Energy Agency predicts that as countries lift anti-epidemic measures and usher in economic recovery, global energy demand in 2021 will increase by 4.6% compared to last year.

Specifically, in 2021, the average daily global oil demand is expected to increase by 5.4 million barrels over the same period last year, an increase of 6% year-on-year; driven by the power industry, global coal demand is expected to rebound strongly this year, an increase of 4.5% year-on-year; Driven by Asian and Middle Eastern markets and other factors, global natural gas demand will also increase by 3.2% year-on-year.

This year, global renewable energy power generation will increase by more than 8% year-on-year, which is also the largest annual increase since the 1970s. Solar photovoltaic power generation and wind power generation will account for two-thirds of the growth in renewable energy generation. This year, China’s renewable energy power generation increase is expected to account for about half of the world, followed by the United States, the European Union and India.

The International Energy Agency pointed out that, driven by factors such as increased economic activity in major emerging economies such as China and rapid economic growth, global electricity demand is expected to increase by 4.5% year-on-year in 2021.

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