Global oil demand will drop by 1.4 million barrels per day, according to the latest forecast by Rystad Energy on Friday cited by the National. The 1.4 million bpd loss would sink oil demand to 99.6 million bpd on average, below 2019 levels of 100.2 million bpd. And a rebound in this demand isn’t expected to happy until next year at the soonest, Rystead said.
The drop in oil demand will likely come from the Russian invasion of Ukraine, soaring inflation, China’s covid-inspired lockdowns, and supply chain disruptions. And even more oil…Rystad: Oil Demand To Sink By 1.4 Million Bpd
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