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Oct 14, 2020 · The overall demand estimate for 2020 is largely unchanged at 91.7 mb/d (down 8.4 mb/d versus 2019), as is the estimate for 2021 at 97.2 mb/d, (up 5.5 mb/d year-on-year). Global oil supply fell in September as OPEC+ countries improved the compliance rate with their agreement.
- Global oil demand to decline in 2020 as coronavirus weighs ...
The IEA now sees global oil demand at 99.9 million barrels a...
- Global oil demand to decline in 2020 as coronavirus weighs ...
1 day ago · Crude futures finished with a loss on Friday, just a day after posting a gain for the first time in five days, with prices of the U.S.-traded benchmark ending below $70 a barrel and marking its ...
Mar 9, 2020 · The IEA now sees global oil demand at 99.9 million barrels a day in 2020, down around 90,000 barrels a day from 2019. This is a sharp downgrade from the IEA’s forecast in February, which predicted global oil demand would grow by 825,000 barrels a day in 2020. The short-term outlook for the oil market will ultimately depend on how quickly ...
- We forecast that oil demand will fall by 8.8 mb/d y-o-y in 2020, a modest 50 kb/d downward revision from our previous Report. Our 2021 demand forecast was revised down by 170 kb/d.
- Global oil supply rose 1.5 mb/d in November to 92.7 mb/d as the US recovered from hurricane shut-ins and Libya built up production. In December, production may rise again ahead of OPEC+ increasing its quota by 0.5 mb/d in January.
- Global refinery throughputs fell almost 1 mb/d in October mainly due to maintenance and hurricane shutdowns. The seasonal slowdown of refined product demand in the northern hemisphere winter combined with tighter crude oil markets will result in a challenging environment for refiners in the short-term.
- OECD industry stocks fell in October by 55.3 mb (1.78 mb/d) to 3 129 mb, and were 183.4 mb above the five-year average. Observed global stocks fell by 4.1 mb/d.
4 days ago · It will take years for oil demand to recover to January 2020 levels. Prices, however, may firm up sooner because much production is now shut, and it takes time to bring that production back. We could see oil prices above $30 per barrel by the year’s end and approaching $50 per barrel by the end of 2021.
Price - Chart - Historical Data - News. WTI crude oil futures rose toward $71 per barrel on Thursday after four consecutive sessions of decline, driven by an unexpected drawdown in US crude oil inventories. API data showed that US crude stocks fell by 1.6 million barrels last week, following an almost 11-million-barrel build and defying ...
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Mar 13, 2020 · The Oil Price Shock (s) of 2020. COVID-19 has created a demand shock in the oil market as social distancing reduces movement and daily travel for more and more of us each day. At present, most of the reporting agencies expect oil demand growth this year to be largely flat, well below the 1.2 million barrels/day (mmb/d) expected just a few ...
