Crude oil maintains gloomy outlook

Dawn | Aug 1, 2020 at 7:36 AM
  • DESPITE all the efforts, the overall crude prognosis continues to stay gloomy.
  • Spanish oil and gas firm Repsol also reported a net loss for the second quarter, announcing write-downs of $1.5bn in assets.
  • A slow recovery in jet fuel demand will drag on global oil demand for at least another two years as overall passenger traffic numbers continue to be low and mandatory quarantines continue to stop people from traveling on international flights.