Oil demand last year was 3.7 million barrels per day (bpd) below 2019 levels, driven primarily by weakness in the aviation sector, which was 33% below pre-pandemic levels, BP said in its 2021 Statistical Review of World Energy.
OIL - AVIATION STILL LAGS
* Oil demand in 2021 averaged 96.9 million bpd, some 3.7 million bpd below 2019 levels.
* Much of this weakness was concentrated in aviation-related oil demand, which was more than 2.5 million bpd, or 33%, below 2019 levels.
* Global oil production increased by 1.4 million bpd in 2021, with the OPEC+ group of producing nations accounting for more than 75% of the increase.
NATURAL GAS - LNG GROWTH SLOWS
* Global natural gas demand grew 5.3% in 2021, recovering above pre-pandemic 2019 levels and crossing the 4 trillion cubic metres mark for the first time.
* Its share in primary energy in 2021 was unchanged from the previous year at 24%.
* Liquefied natural gas (LNG) supply grew by 5.6%, or 26 billion cubic metres (bcm), to 516 bcm in 2021, its slowest rate of growth since 2015 (other than in 2020)
RENEWABLES - FASTEST GROWTH
* Renewable primary energy (including biofuels but excluding hydro) increased 15% in 2021, stronger than the previous year’s 9% and any other fuel in 2021.
* Solar and wind capacity continued to grow rapidly in 2021, increasing by 226 gigawatts (GW), close to the record 236 GW jump in 2020.
source of the news:reuters