Tag Archives: International

OPEC Sees its Oil Demand Dropping to Lowest in 30 Years

OPEC expects demand for its crude will fall to the lowest in three decades as the coronavirus outbreak freezes the global economy, underscoring the urgency of its promised production cuts. Just under 20 million barrels a day will be needed on average from the Organization of Petroleum Exporting Countries in …

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IEA Sees Record 2020 Oil Demand Fall due to Coronavirus

Global oil demand will fall by a record amount this year as lockdown measures imposed to curb the coronavirus outbreak bring the economy to a virtual halt, the International Energy Agency (IEA) said Wednesday, April 15. For 2020 overall, demand will fall by 9.3 million barrels per day (mbd), with …

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