Overview
In energy consumption the overall global picture is of fluctuating prices and increasing demand as economies grow. Oil stocks reached record levels in 2016 and OPEC and other producers are making a concerted effort to reduce stock levels by capping output. However this is balanced by accelerating shale oil production in the US.
Strengths and weaknesses
The International Energy Agency (IEA) predicts rising energy demand in 2018, albeit slower than economic growth. Pressure to use fossil fuels more efficiently is a factor here. Demand will, however, be relatively stagnant in Europe, rising slightly in the USA and slowing in China, reflecting the decelerating Chinese economy as a whole.
The energy sector is famously unpredictable and vulnerable to factors such as hurricanes in the Gulf of Mexico and politics in the Middle East. The case for protecting businesses with the Coface combination of credit insurance and insightful business intelligence is clear.
Related resources
Resources
View Resource
Grow your business safely
Focus on sustainable growth. This is indisputably a tough time for business. Experts believe it will take years for the economy to recover from the shock of the pandemic and lockdown while there is continued uncertainty
02 December, 2020
Resources
View Resource
ExpressECO
The COVID-19 pandemic has contributed to a unique set of circumstances weighing on the world economy, notably in terms of political risk. Julien Marcilly, Coface’s Chief Economist, presents some of our predictions for 2021,
27 November, 2020
Resources
View Resource
Country & Sector Risk Barometer: Q3 2020 Quarterly Update
Similar to last quarter, the uncertainties surrounding the forecasts presented in this barometer are very high. They are primarily linked to the global health situation: since June, the pandemic has continued to gain momentum.
01 October, 2020