Powered by

Oil to hit $40 by 2030 if climate goals are met -consultancy

Apr 15, 2021 - Nasdaq

By Ron Bousso

LONDON, April 15 (Reuters) - Global oil prices could drop to around $40 a barrel by 2030 if governments push to reduce fuel consumption in step with U.N.-backed plans to limit global warming, a leading energy consultancy said on Thursday.

In a report outlining a scenario where the world acts decisively to tackle greenhouse gas emissions by electrifying transport and industry, Edinburgh-based Wood Mackenzie said oil consumption would begin a steep drop as early as in 202...