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‘The end of Big Oil’: Are we heading for $10 a barrel oil?

by Slack, Apr 30
1 minute read

Influential analyst firm Wood McKenzie has published a scenario that would see oil prices plummet over the coming years. The Accelerated Energy Transition Scenario – AET-2 – explores how “progressive electrification will squeeze the most polluting hydrocarbons out of the energy mix, nearly eliminating their markets”. As such, oil demand would shrink, and with it, the power of major oil producers.

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