IEA cuts demand forecast on covid resurgence

Wed, 16 Sep 2020

The ongoing impact of covid-19 has prompted the International Energy Agency to cut its fourth-quarter oil demand forecast by 600,000 barrels a day.Daily global demand, which had been running at about 100 million barrels last year, fell by 10.5 million barrels in the seven months through July, the agency said. After an initial demand recovery as lockdowns were eased, “the curve has flattened out and it is becoming increasingly apparent that covid-19 will stay with us for some time.”Last month, demand in India, the world’s...

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