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DM us📲 The COVID-19 crisis wrenched energy demand from its growth trajectory and workers from their cubicles. For a time in 2020, we stopped driving, flying, commuting. And we stopped buying the fuel needed to do these things. Today, even as economies have restarted, fuel demand remains subdued.
McKinsey’s Global Energy Perspective 2021, an annual report, analyzes the ways in which the COVID-19 pandemic has permanently shifted energy-demand curves. Demand is likely to return to 2019 levels within one to four years, with electricity and gas rebounding fastest (Exhibit 1). But we do not foresee a return to the previous trajectory of growth in demand.
