Global oil demand could drop by 20% due to virus: IEA

Anadolu Agency | Mar 27, 2020 at 12:00 AM
  • The global oil demand which is 100 million barrels per day (bpd) could fall by 20 million bpd as 3 billion people in the world are under lockdown due to coronavirus pandemic.
  • The virus led to a decrease in global oil demand which also lowered the prices.
  • Birol concluded that as a result of the current declining demand for additional output plans, the global oil storage capacities may get full very soon.