WoodMac: Oil Prices Could Drop To $10 In 2050

Brent Crude oil prices could fall to $10 per barrel by 2050 if the world accelerates the energy transition with decisive action to achieve the Paris Agreement climate goals, energy consultancy Wood Mackenzie said on Thursday.   The scale of change if the world moves on track to limit global warming to 2 degrees Celsius would be so great that it would revolutionize the energy industry and sink demand for oil, the power of major oil producers, and oil prices, according to WoodMac. Still, the consultancy’s Accelerated Energy Transition…