Coronavirus effects likely to accelerate energy transition: Moody's

The Covid-19 lockdown experience of reduced commuting and business travel alongside better air quality and family time may deliver lasting changes in energy consumption, Moody's Investors Service said on Monday.

Recessionary forces and weaker long term growth expectations will place pressure on both corporate and household demand, it said in the latest credit outlook report.

At the same time, the risk of behavioural change along with increasing use of biofuels, electric vehicles and improved engine efficiency adds to the likelihood of oil demand eroding over time.

Economic outlook, behavioural shifts and decarbonisation trends combine to increase the challenge of forecasting oil demand. "We