BMI View: Italy is at a crossroads in terms of energy market development. Italian oil consumption has fallen steadily since 1999 and we expect that the lack of economic growth will continue to affect the oil and gas consumption outlook over the next decade. Our Country Risk team expects that Italian policymakers will be forced to push through painful austerity measures at some point over the next decade, which will have significant implications for the country’s social fabric but also increase poverty. The public rejected state efforts to revive its nuclear strategy, clearing the way for gas volumes to rise …
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