Chart of the Week - Despite COP26 ending with no powerful mandate and a watered-down version of climate commitments, the UN summit put developing economies and OECD countries on a collision course. - According to IEA estimates, fossil fuel subsidies that the initial COP26 draft wanted to scrap, still amount to some 180 billion globally and remain likely to be a key target for upcoming climate summits.
- Global oil demand alone would need to collapse by 75% over the next 30 years from today’s levels to put the world on a pathway…The Oil Market Is Struggling To Interpret Mixed Signals
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