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Mass media / Periodicals

The IEA updated its forecast for the fall in oil demand in 2020 against the background of the coronavirus

"Oil of Russia" 14.05.2020 at 12:32

International energy Agency (IEA) expects a decline in world oil demand in 2020 by 8.63 million barrels per day. This is stated in the monthly report of the Agency.

In the previous report, the Agency forecast a decline in oil demand in 2020 to 9.3 million barrels per day. Thus, the forecast is adjusted to 670 thousand barrels upward.

the Organization expects oil demand in 2020 at the level of 91.23 million barrels a day against 90,55 million bpd in the previous forecast.

"Our forecast for 2020 envisages overall drop in oil demand of 8.6 million barrels per day, which is approximately 700 thousand barrels per day more than in our previous report. COVID-19 is a major risk factor for demand," the report said

the Agency estimates the growth in global oil demand in 2019 800 thousand barrels per day. Oil demand in 2019, according to the IEA, made up of 99.86 million barrels per day.

the Growth in world oil demand in 2018, according to the IEA, amounted to 980 thousand per day. Oil demand in 2018, according to the IEA, amounted to 99,06 million barrels per day. In 2017 the demand for oil in the world was 98,08 million barrels per day.

the Outbreak of a new coronavirus infection were recorded in late December of last year in the major Chinese city of Wuhan. March 11, the world health organization (who) described the spread of coronavirus in the world as a pandemic. The total number of cases in the world has exceeded 4.35 million people who died – 297 thousand people, according to Johns Hopkins University.

Source: RNS