Commodities Buzz: Global Primary Energy Consumption Sees Sharp Bounce

29 Jun 2022 , 01:01 PM

British Petroleum (BP), reported in a latest update that there has been a sharp bounce back in global primary energy consumption in 2021. The total energy consumption has jumped by almost 6%, more than reversing the sharp fall in energy consumption in 2020 as much of the world locked down. Primary energy use in 2021 is estimated to be more than 1% above its 2019 level. BP noted that this surge is primarily driven by a rapid recovery in economic activity as the widespread distribution of effective vaccines allowed for an easing in COVID-19 restrictions in many parts of the world and a return to normal life. Powered by Commodity Insights