Geopolitical fragmentation to slow energy demand: BP chief economist

Rising geopolitical tensions will slow global trade and GDP growth, dampening energy demand worldwide and in India, as nations prioritise self-reliance over imports, said BP’s chief economist Spencer Dale.

“If the world becomes more self-reliant, they will tend to have less international trade,” said Dale. “If there’s less international trade, that would tend to slow global economic growth because there’s less chance for people to do trade specialization and there’s less scope for new technologies to be quickly transferred around the world.”