Oil & gas prognoses: ongoing debate | Market Melange

BP gave itself – and the rest of the Oil & Energy world – a breath of fresh air by publishing its annual ‘Statistical Review of World Energy’ last week. Despite the high quality of the report, both the objective data and the personal conclusions are open to discussion though, especially since yesterday, with Exxon taking the floor.

BP Statistical Review of World Energy: summary

In short, this highly respected report gives a clear and objective view on the evolution of global resources and yearly evolution of consumption. It states that energy consumption lowered for the first time since 1982, reflecting largely the evolution of the economic recession and recovery. Industrialized countries consumed less energy (-5%), while consumption increased in the rest of the world (+1.7%).