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Energy and COVID 19

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Bishal Rimal

The coronavirus pandemic has created an unpredictable global crisis that has severely impacted the energy sector. According to an IEA report from May 2020, countries with full lockdowns saw energy demand decline an average of 25% per week while partial lockdown countries saw an 18% average weekly decline. The pandemic has slowed transport, trade, and economic activity worldwide while also sending shockwaves through health systems and societies around the world. The energy sector has been significantly affected by this crisis through reduced consumption across the globe.

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A N U N P R E D I C TA B L E C R I S I S ENERGY AND COVID-19 Bishal Rimal 075MSREE004 Source, IEA, MAY 2020
IMPACT The coronavirus (Covid-19) has created the biggest global crisis in ? Sending shock waves through health systems, ? Economies ? Global Energy consumption market ? societies around the world.
IMPACT ON ENERGY The energy sector is also severely affected by this crisis, which has slowed ? Transport ? Trade ? economic activity across the globe. ? According to Global Energy Review 2020, ? full lockdown countries are experiencing an average 25% decline in energy demand per week ? partial lockdown countries experiences an average 18% decline.
Energy and COVID 19
Energy and COVID 19
Energy and COVID 19
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Energy and COVID 19

  • 1. A N U N P R E D I C TA B L E C R I S I S ENERGY AND COVID-19 Bishal Rimal 075MSREE004 Source, IEA, MAY 2020
  • 2. IMPACT The coronavirus (Covid-19) has created the biggest global crisis in ? Sending shock waves through health systems, ? Economies ? Global Energy consumption market ? societies around the world.
  • 3. IMPACT ON ENERGY The energy sector is also severely affected by this crisis, which has slowed ? Transport ? Trade ? economic activity across the globe. ? According to Global Energy Review 2020, ? full lockdown countries are experiencing an average 25% decline in energy demand per week ? partial lockdown countries experiences an average 18% decline.

Editor's Notes

  1. As a consequence of global lockdown measures due to the Covid-19 crisis, mobility ¨C 57% of global oil demand ¨C declined at an unprecedented scale in early 2020. Road transport in regions with lockdowns in place dropped between 50% and 75%, with global average road transport activity almost falling to 50% of the 2019 level by the end of March.
  2. As a result of the pandemic and containment measures around the world that have brought travel and transport almost to a halt, oil consumption is falling dramatically. In April, global oil demand is estimated to drop by 29 million barrels a day compared with a year ago, a level last seen in 1995. As a result, oil demand is expected to fall by a record 9.3 million barrels a day this year, erasing almost a decade of growth.
  3. Global electricity demand decreased by 2.5% in the first quarter of 2020, though lockdown measures were in place for less than a month in most countries. Full lockdown measures pushed down electricity demand by 20% or more, with smaller effects for partial lockdowns. After correcting for weather effects, full lockdowns have reduced daily electricity demand by at least 15% in France, India, Italy, Spain, the United Kingdom and the US northwest. The largest impacts have been felt in economies that implemented strict measures and those where services make up a larger part of the economy.