May 12, 2021

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Coronavirus: implications “significant” on the demand for oil (IEA)

By Le Figaro with AFP

The new coronavirus will be consequences “significant” on oil demand, whose growth forecast for this year has been drastically reviewed downwards, has warned on Thursday the international energy Agency (IEA).

It has revised down 365.000 barrels per day, its expectations regarding the growth of the demand of crude oil to 2020, which is expected now to 825.000 barrels per day, the lowest since 2011, and is forecasting a contraction of demand in the first quarter, a first in over a decade.