Global Oil Demand To Drop By 6.4 Million Bpd In Second Half 2020

[mentalfloss]

Oil is Dead



Global Oil Demand To Drop By 6.4 Million Bpd In Second Half 2020

According to the cartel, the loss in global oil demand will slow to 6.4 million bpd in the second half of the year, compared to an estimated decline of 11.9 million bpd in the first half of the year.

In addition, gasoline consumption will also suffer because of the high unemployment rate in the United States and reduced commuting, while industrial fuels will be impacted by weaker manufacturing around the world, the cartel said.

https://oilprice.com/Latest-Energy-...y-64-Million-Bpd-In-Second-Half-2020.amp.html

 

[captain morgan]

6.4 million bpd is basically a rounding error relative to the actual global daily production and consumption

 

[Jinentonix]

Oil is Dead



Global Oil Demand To Drop By 6.4 Million Bpd In Second Half 2020

According to the cartel, the loss in global oil demand will slow to 6.4 million bpd in the second half of the year, compared to an estimated decline of 11.9 million bpd in the first half of the year.

In addition, gasoline consumption will also suffer because of the high unemployment rate in the United States and reduced commuting, while industrial fuels will be impacted by weaker manufacturing around the world, the cartel said.

OPEC announces production cuts in the face of a massive global economic shut down. Local retard exclaims "oil is dead".

 

[Twin_Moose]

Yep opened a new thread to mimic his last Oil is dead thread that he lost in, Does he think he will win in this thread with the same stupid argument?

 

[Hoid]

JP Morgan is predicting $100 a bbl oil which would at least make the trans mountain expansion economically feasible.

I would not be surprised by $100 a bbl oil.

When its worth whatever people pretend its worth it can be worth just about anything.