In addition to the divergent economic recovery and mobility restrictions due to Covid-19, the problem is also driven by policy factors, namely stronger demand for a green economy in Europe and the US amid production restrictions in China and a number of other producing countries that require a transition period towards more environmentally friendly production (Scheme 1).
At the same time, demand for energy is increasing in advanced economies in anticipation of supplies for winter. These factors have resulted in a productiondemand gap and higher international commodity prices, such as oil, coal, and food prices (Graph 8).