Crude oil sees 89% rebound from April lows

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Crude oil sees 89% rebound from April lows

  • Global crude oil consumption rebounded by 13 million barrels per day after historic lows in April, according to IHS Markit study.
  • Global oil demand has recovered by 89% of its pre-pandemic levels, it adds.
  • Oil demand growth likely to recover between 92% to 95% of pre-pandemic levels by Q1 2021 with or without a vaccine, projects the energy research firm.

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