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IEA sees biggest drop in energy investment ever

  • The coronavirus crisis has been "staggering in both its scale and swiftness," warned the IEA in its annual World Energy Investment report, stating global energy investment will tumble by 20% - or by $400B - compared to last year.
  • Worst hit will be the U.S. shale sector, which will see investment drop by half in 2020, even as oil prices rally.
  • "It has always been under pressure, but now access to capital and investment confidence is drying up," said the agency's executive director, Fatih Birol.
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