Oil Demand may Never Recover from COVID-19 Crisis

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Global oil demand might never return to levels seen before the outbreak of the COVID-19 epidemic, Royal Dutch Shell CEO Ben van Beurden said on Thursday.
“Demand will take a long time to recover if it recovers at all,” van Beurden told reporters after the Anglo-Dutch energy company reported a sharp drop in second-quarter profit.
Shell expects aviation fuel consumption to recover to 50% of pre-crisis levels by the end of 2020, he said.
“The aviation sector is down and will remain down for some time to come.”