1、WorldEnergyReview2022WorldEnergyReview2022In 2021 the easing of Covid-19 restrictions and the ensuing economic recovery led to a rebound in energy demand,barely met by the available resources that were constrained by a legacy of limited investment into the Oil&Gas sector.The unsta-ble balance result

2、ed in higher commodity prices,highlighting the vulnerabilities in the energy system.This year the war in Ukraine has further emphasised the importance of energy security.The main challenge that the energy industry is facing is to improve universal access to affordable energy while,at the same time,a

3、ccelerating the transition process towards a more sustainable energy mix.By acknowledging the ongoing process of change,the World Energy Review,now in its 21st edition,this year comes out in an interactive and modular version,and also introduces the topic of critical minerals.The transition from fos

4、sil fuels to low-carbon energy sources calls for the massive deployment of a wide range of clean energy technologies,many of which in turn rely on these critical minerals concentrated in a few countries.Ensuring energy transition as well as energy security in the future must take into consideration

5、this important aspect.Looking at the evolution of the world of oil,natural gas,modern renewable sources and critical minerals,the following highlights emerge:Oil prices were up by 70%in 2021 as demand recovered(+6.1%YoY)but remained below pre-pandemic levels.OPEC+kept a“close eye”on production and m

6、arket balance,delivering a gradual easing of cuts in the second half of the year while by the year-end bringing down global inventories to below the previous five-year average.Production capacity growth struggled to keep pace with the recovery in demand.World oil production increased by 1.4%YoY in 2