Sluggish growth in global energy consumption for the third straight year signals a world in transition, with increasing demand limited to developing economies, particularly China and India, according to the “BP Statistical Review of World Energy 2017,” released on June 13.
“Stability and energy don’t go together,” Spencer Dale, BP’s group chief economist told a worldwide audience via Internet linkup.
Dual forces dominate the 66th edition of the annual report, Dale said:
Short-term adjustments as the oil market works through a sustained period of oversupply; and
A long-term transition toward slower energy growth and a shift away from traditional developed economies to those that are developing.
[Read More …]
Source: Daily Dose of ShaleDirectories.com News