2 weeks OPEC cuts oil demand forecasts, BP sees ‘peak oil’ in 2020s Inquirer
LONDON --- Developing countries' difficulty in containing the spread of the coronavirus pandemic will keep a lid on global oil demand, particularly in India, the OPEC cartel said Monday as it cut its forecasts. OPEC cut its estimates for world demand by 400,000 barrels a day for both this year and next. It now sees a drop in demand of 9.5 million barrels a day in 2020 and a rise of 6.6 million barrels in 2021. "Risks remain elevated and skewed to the downside, particularly in relation to the development of COVID-19 infection cases and potential vaccines," the cartel said ... more