Wood Mackenzie analysts predicted that the price of Brent oil could plummet to $10 per barrel after the transition to green energy. Experts assessed the probability of such a scenario.

According to the authors of the study, the demand for oil will begin to fall as early as 2023 and by the middle of the XXI century will fall by 70 percent against today. They believe that this will happen if major economies act decisively to achieve the goals of the Paris Agreement on climate and switch to “green” energy.

Such scenario assumes an active fight against greenhouse gas emissions in order to contain global warming. The greatest threat, according to analysts, is the electrification of transport and industry.