Despite its advantages, the transition to renewable energies could weaken the countries producing black gold. The finding was made in a report published by the risk consulting firm Verisk Maplecroft.

The policy of oil-producing countries to make a transition to renewable energies risks provoking political conflicts.
Verisk Maplecroft explains that from 2024 to 2041, Algeria, Iraq and Nigeria, which are among the countries that have lagged behind in their desire to diversify their economy, could face this problem. In addition, other producers such as Angola, Gabon and Kazakhstan are threatened.
For James Lockhart Smith, head of market risk at Verisk Maplecroft, diversification could come with its own political risks by challenging the traditional social contracts of petrostates: legitimacy to govern in exchange for largesse in hydrocarbons.
However, the oil price outlook remains uncertain and could bottom out in the coming years due to the ongoing green revolution. For the moment, the barrel of Brent is currently trading around 63 dollars per barrel.