This is how the COVID 19 impacted the global energy sector..

The COVID 19, led to depressed energy demand in 2020, the global energy demand reduction as per the BP statistical energy review 2021 was about 4.4%.. The reduction in the global energy demand not only led to the cascading impacts on the price fall of the crude oil globally, but also led to the greening of the global electricity grid.

The global oil demand has fallen by 9.3%, about 9.3 Mb/day..and led to the negative price level ever recorded in history..

The global energy mix changed to the relatively cleaner fuels, more use of natural gas as compared to the coal.

Though the primary energy demand reduced, there was little impact on the electricity demand at global level.. it fallen by 0.9%.

The European gas demand fell by about 35% in 2020, which led to significant price fall in International gas price..

The reduction in the global energy demand led to reduction of global CO2 emissions by about 4.4%.. First-time after the world war..

Look at this scenario.. Just about 5% reduction in global energy demand can lead to significant price fall in crude oil..If we are crying about the rising fuel prices now, post COVID, it is in our hand to get market corrected once again.. reduce your energy demand by 5%.. and see how the global corrections take place..