BP sees ‘tectonic shift’ in world energy production
BP sees ‘tectonic shift’ in world energy production
Oil giant’s chief economist says energy consumption slowed dramatically last year as China cutback and Opec battled US shale drillers for supremacy of world markets
By Andrew Critchlow, Commodities editor:10:00AM BST 10 Jun 2015
Global energy consumption slowed to its slowest rate of growth since the late 1990s last year in what BP’s chief economist Spencer Dale has described as a “watershed” moment as production of oil outside the Opec cartel surged.
Total energy consumption growth slowed to just 0.9pc, while in China consumption growth slowed at the fastest rate since 1998, according to BP’s closely watched Statistical Review of World Energy.
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