Rystad Energy anticipates 2.8% decrease in global oil demand
Published by Nicholas Woodroof,
Editor
Oilfield Technology,
Rystad's estimates show that total oil demand in 2019 was approximately 99.9 million bpd, which is now projected to decline to 97.1 million bpd in 2020. To put the number into context, last week Rystad projected a decrease of just 600 000 bbl.
At the moment Rystad expect the month of April to take the biggest hit, with demand for oil falling by as much as 11 million bpd y/y.
This downgrade takes into account developments that happened within the course of last week such as the new quarantine lockdowns across Europe and the declaration of a state of emergency in the US, as well as updated simulations of the virus’ growth patterns this year.
Read the article online at: https://www.oilfieldtechnology.com/special-reports/18032020/rystad-energy-anticipates-28-decrease-in-global-oil-demand/
You might also like
3t achieves TGA accreditation for maritime training in Saudi Arabia, strengthening regional workforce development
3t, a global leading provider of safety critical training and blended learning solutions for high-hazard industries, has achieved official accreditation by the Transport General Authority (TGA) for its maritime training programmes to be delivered at its Dammam training centre.