Investing.com - Financial Markets Worldwide

IEA still sees record 2020 oil demand fall but easing lockdowns helping

Published 14/05/2020, 09:00
© Reuters.

LONDON, May 14 (Reuters) - Oil demand is still set for a
record fall in 2020, the International Energy Agency (IEA) said
on Thursday, but it trimmed its forecast for the drop citing
easing lockdown measures.
Demand is expected to fall by 8.6 million barrels per day
(bpd), the IEA said in its monthly report, trimming its estimate
by 690,000 bpd.
Around 2.8 billion people will be living under confinement
measures aimed at containing the coronavirus at the end of May,
down from 4 billion in April, the Paris-based IEA said.
In trimming its forecast it also cited
stronger-than-expected mobility in some European countries and
the United States as well as higher Chinese demand as it
recovers from the virus outbreak.
"Economic activity is beginning a gradual-but-fragile
recovery. However, major uncertainties remain. The biggest is
whether governments can ease the lockdown measures without
sparking a resurgence of COVID-19 outbreaks," it said.


Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.