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French company TotalEnergies has said it expected a big rise in renewable-based electricity, solar, and wind forms of energy, partly due to a general increase in electrification in the industrial and business world.
TotalEnergies added it expected that oil, in general, would plateau before 2030, while natural gas would continue to play a role as a transition fuel.
Producers and traders had said at an industry conference on Monday that global oil demand was expected to reach pre-pandemic levels by early next year as the economy recovers, although spare refining capacity could weigh on the outlook.
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