IEA: Demand for crude oil to drop 8.8M bpd in 2020
15 Aralık 2020 Salı 12:55
The International Energy Agency (IEA) published on Tuesday its Oil Market Report for December, forecasting that the world oil demand will annually decline by 8.8 million barrels per day (bpd) in 2020.
The International Energy Agency (IEA) published on Tuesday its Oil
Market Report for December, forecasting that the world oil demand will annually decline by 8.8 million barrels per day (bpd) in 2020. At the same time, the demand forecast for the next year was reduced down due to "another" downgrade for jet fuel and kerosene demand.
"The understandable euphoria around the start of vaccination programs partly explains higher prices but it will be several months before we reach a critical mass of vaccinated, economically active people and thus see an impact on oil demand. In the meantime, the end of the year holiday season will soon be upon us with the risk of another surge in Covid-19 cases and the possibility of yet more confinement measures," the report noted.