Question: Consider the following statement:
- Global Energy Review 2020 report is published by International Energy Agency (IEA).
- According to the report advanced economies will experience the greatest declines in energy demand in 2020.
Choose the correct one:
(a) Only(1)
(b) Only(2)
(c) Both (1) and (2)
(d) None of the above
Answer:(c)
Related facts:
Context:
International Energy Agency (IEA) has released its Global Energy Review 2020 report.
Major Highlights:
- Global energy demand is projected to fall six per cent in 2020.
- This will be steepest decline in percentage terms in 70 years and the largest ever in absolute terms.
- All fuels except renewables are set to experience their greatest contractions in demand for decades.
- The projected 6% decline would be more than seven times the impact of the 2008 financial crisis on global energy demand, reversing the growth of global energy demand over the last five years.
- According to the report advanced economies will experience the greatest declines in energy demand in 2020.
- In India, energy demand would decline for the first time, following on from low demand growth in 2019.
- Global oil demand in 2020 is projected to drop by 9 per cent or 9 million barrels per day on an average across the year, returning oil consumption to 2012 levels.
- Global coal demandis projected decline by 8 per cent, in large part because electricity demand will be nearly 5 per cent lower over the course of the year.
- Global Electricity Demand has been declined by 20% during periods of full lockdown in several countries. However, the residential demand is outweighed by reductions in commercial and industrial operations.