Business
Global demand for oil to fall further than expected, says IEA – The Guardian
Oil watchdog cuts forecasts for 2020 and 2021 following an upsurge in coronavirus cases
The worlds demand for oil will fall further than expected through this year and in 2021 following a surge in new coronavirus cases, according to the International Energy Agency (IEA).
The oil watchdog wiped almost a quarter of a million barrels of oil a day (bpd) from its forecasts for next year after warning that the rising number of Covid-19 cases could mean a slower recovery for the global aviation industry and lower demand for transport fuels.
In its latest monthly report, the IEA cut its …
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