Global oil prices could drop to around $40 a barrel by 2030 if governments push to reduce fuel consumption in step with U.N.-backed plans to limit global warming, a leading energy consultancy said on Thursday.

In a report outlining a scenario where the world acts decisively to tackle greenhouse gas emissions by electrifying transport and industry, Edinburgh-based Wood Mackenzie said oil consumption would begin a steep drop as early as in 2023.

The decline in demand would accelerate to a rate of 2 million barrels of oil per day (bpd) to reach 35 million bpd by 2050, accounting for a 60% drop in carbon emissions from oil use from today’s levels.

Oil consumption hit a record of around 100 million bpd in 2019 and is expected to recover strongly this year after cratering last year due to the coronavirus epidemic.

As a result, oil prices would begin to slip later

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Brand recognition is one of the essential aspects in promoting your business. 

Promotional products, custom branded T-Shirts and embroidered apparel, and signs and banners help you keep your brand in front of customers; improving their impression of your company while increasing their chances of doing business with you.

Take advantage of this great tool for your business. Advance Advertising allows you to find the items you want. Choose from a variety of potential styles, and create a promotional item that make your brand memorable. From standard classics like pens, to the latest trends, you’ll always have a way to make a lasting impression with your customers.
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