Norway is confident it can challenge Opec for oil market share in a world that shoots for net zero emissions by 2050, as outlined in a key International Energy Agency (IEA) report.

The world needs a “radical” shift towards renewable energy sources to reach net zero within three decades and limit the global temperature increase to 1.5 decrees Celsius, the IEA said as it released its ‘Net Zero by 2050’ report on Tuesday.