Global oil demand is more likely to surprise to the upside even in a very weak economy, popular hedge fund manager Pierre Andurand said in a Twitter thread on Friday. Due to COVID-related lockdowns, demand has been way below trend over the last few years, the hedge fund manager said. Average annual oil demand growth from 2000 to 2010, and 2010 to 2019 was quite steady at around 1.
2 million bpd to 1.3 million bpd, and in line with population growth over time, Andurand noted. Taking 2019 as a base, and estimating demand growth at 1.2 million…Pierre Andurand Sees Oil Demand Surprising To The Upside
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