APPEC INTERVIEW: OPEC’s Barkindo sees China as bright spot in challenging demand scenario

S&P Global Platts | Sep 14, 2020 at 8:45 AM
  • Oil demand growth in China is currently the only certainty, with consumption in the country seen rising through the remainder of 2020 and recovering completely in 2021, but the rest of Asia will not see a full recovery to pre-crisis levels during 2021, OPEC Secretary General Mohammed Barkindo told S&P Global Platts.
  • Oil demand from Asia, which accounts for close to 40% of global demand, was significantly hit by the coronavirus pandemic this year, particularly in the transport sector, which has had an impact on major regional oil consumers’ crude oil procurement strategies in recent months.