Oil demand

Global oil demand roared back in 2021, with gasoline and diesel use surging as consumers resumed travel and business activity recovered amid the coronavirus pandemic. Indeed, the International Energy Agency has noted mobility indicators remain robust even as Covid-19 is once again causing record infections.

It marks a dramatic shift from 2020 when the oil and gas industry endured a dreadful 12 months by virtually every measure.

Energy majors are seeking to reassure investors they have gained a more stable footing two years after Covid-19 first shook markets, and as shareholders and activists pile pressure on the firm’s executives to take meaningful climate action.

The world's largest oil and gas companies have all sought to strengthen their climate targets in recent years, but so far none have given investors confidence their business model is fully aligned to Paris Agreement targets.

To be sure, it is the burning of fossil fuels such as oil and gas that is the chief driver of the climate emergency. $BP PLC(BP.US)$ $CNOOC(00883.HK)$ $中石化(SNP.US)$ $邓伯瑞资源(DNR.US)$ $Southwestern Energy(SWN.US)$