Oil demand decline global outlook 2020

Projected decline in annual global oil demand volume following impact of Covid-19 by source for 2020 (in million barrels per day)

Expected y-o-y fall in global oil demand due to coronavirus pandemic by source 2020

Last update:

Apr 24, 2020

Author:

��ƽ�� Research Department

Region:

Worldwide

Survey time period:

From 01/01/2020 to 31/12/2020

The International Energy Agency expects global oil demand do decline by 9.3 million barrels per day in 2020 compared to the previous year. The coronavirus pandemic and resulting decline in consumer demand have had catastrophic implications for many oil producers, with concerns about dwindling storage capacities resulting in many benchmark oil prices reaching new lows.

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Projected decline in annual global oil demand volume following impact of Covid-19 by source for 2020 (in million barrels per day)

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