The International Energy Agency (IEA) has further lowered its growth forecast for coal due to demand reduction in China and a global shift towards renewables and energy efficiency.
Average global coal demand to 2020 will increase by 0.8%, the IEA’s annual coal growth report indicated on Friday. This is down from a 2.1% growth rate to 2019 forecast in the same report last year.
The downturn follows stalling global growth in coal demand in 2014 for the first time since the 1990s. This trend is expected to have deepened in 2015.
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