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Long-Term Shifts in Energy Markets Underway

The 2017 edition of the BP Statistical Review of World Energy shows global energy markets continuing to undergo long-term changes as they also adapt to nearer-term price challenges.

Data published in the Review – the 66th annual edition – clearly demonstrate the long-term transitions now underway in the markets, with a shift to slower growth in global energy demand, demand moving strongly towards the fast-growing developing economies of Asia, and a marked shift towards lower carbon fuels as renewable energy continues to grow strongly and coal use falls.

At the same time, energy markets are adjusting effectively to nearer-term challenges, with the oil market in particular adjusting in 2016 to the oversupply that has dominated the market in recent years. 

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