IEA Upgrades Oil Demand Outlook by 4 Mbpd

  • Jul 10, 2020 AEST
  • Team Kalkine

The International Energy Agency upgrades its 2020 oil demand forecast to 92.1 million barrels per day, up by 4 million barrels per day against its previous forecasts.

  • Furthermore, the Paris-based energy agency suggested that the refining activity would keep on falling throughout the year at a higher rate than it previously anticipated.
  • Also, IEA suggested that while the oil market has undoubtedly made progress, accelerating number of COVID-19 cases in large economies still possess a risk to the oil demand.



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