- Global oil demand fell by an estimated 1.1 million barrels per day (bpd) in July this year the latest data from the Joint Organizations Data Initiative (JODI) showed on Monday.
- As a result of lower demand in July, global product inventories in July increased by 63 million barrels—more than three times the average seasonal increase.
- In Saudi Arabia, demand fell counter-seasonally by 192,000 bpd in July.
Global Oil Demand Dropped By Over 1 Million Bpd In July
