The global energy and travel industries have been some of the hardest hit by the coronavirus crisis, with the energy market experiencing its biggest shock post-WWII. Widespread lockdowns have resulted in energy demand plummeting, dwarfing the decline recorded during the 2008 financial crisis. A new report by the International Energy Agency (IEA), based on analysis of 100 days of data, states that global energy demand in the current year is set to plunge 6% Y/Y, the equivalent of losing the entire energy demand of India. The silver lining, though, is this: A global economy on the skids is leading to the biggest drop in CO2 emissions on record with renewables playing an even more prominent role in the electricity generation mix. The bad news removes some of the shine: Oil demand is set to experience the biggest contraction of all major energy sources. The projections range from bad to […]