Oil demand to contract by 8m barrels a day in 2020

City A.M. | Aug 13, 2020 at 4:24 PM
  • The International Energy Agency (IEA) today warned that global demand for the fuel would drop 8.1m barrels per day in 2020 due to the coronavirus pandemic.
  • Demand is now set to fall to 91.9m barrels per day over the course of the year.
  • In line with the fall in demand, the IEA estimates that supply will drop 7.1m barrels per day across the year as a whole.