Growth in energy markets slowed in 2019 in line with weaker economic growth and a partial unwinding of some of the one-off factors that boosted energy demand in 2018.This slowdown was particularly evident in the US, Russia and India, each of which exhibited unusually strong growth in 2018.

BP released the 68th annual edition of the BP Statistical Review of World Energy (BP Stats Review), the most comprehensive collection and analysis of global energy data. This year's edition highlights the growing divergence between demands for action on climate change and the actual pace of progress on reducing carbon emissions.

The 2019 edition of BP’s Energy Outlook, explores the key uncertainties that could impact the shape of global energy markets out to 2040.

The renewed upward march of global carbon emissions is worrying and a big step backwards in the fight against climate change, according to BP. Emissions rose 1.6% in 2017 after flatlining for the previous three years, which the British oil firm said was a reminder the world was not on track to hit the goals of the Paris climate deal.

The Energy Outlook considers the energy transition from three different viewpoints (sectors, regions and fuels) and by exploring a number of different scenarios.

The 2017 edition of the BP Statistical Review of World Energy, shows global energy markets continuing to undergo long-term changes as they also adapt to nearer-term price challenges.

According to this report, India’s consumption growth of fossil fuels will be the highest by 2035 and it will overtake China as the largest growth market for energy in volume terms by 2030.

The BP Statistical Review of World Energy provides high-quality objective and globally consistent data on world energy markets.

Despite current weakness in global energy markets and the slowdown in China’s growth, demand for energy will continue to grow over the next 20 years and beyond as the world economy expands and more energy is required to power the higher level of activity.

BP’s 2015 edition of its Statistical Review of World Energy highlights how significant changes in global energy production and consumption have had profound implications for prices, for the global fuel mix, and for global carbon dioxide emissions.

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