OPEC and the EIA both see demand growth this year
- EIA cuts forecast for 2020 world oil demand by 660K bpd but still sees 0.37 mbpd y/y increase
- Raises 2021 world oil demand growth by 210K bpd, now sees 1.73 mbpd increase
Forecasting oil demand ahead of a pandemic is a fool’s game. Heck, forecasting oil demand at the best of times is a fool’s game.
