The world’s oil demand jumped by more than 3 million barrels per day (bpd) in May compared to April, nearing the record demand level seen in March this year, the latest data by the Joint Organizations Data Initiative (JODI) showed on Monday. The increase in global oil demand was largely driven by a demand surge in China, as well as increases in India, Saudi Arabia, and the United States.
China’s total oil product demand hit 17.37 million bpd in May, the JODI data showed. This was an increase of 1.7 million bpd compared to…Oil Demand Jumped By 3 Million Bpd In May To Near-Record Levels
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