ShippingWatch

IEA sees oil demand suffering long-lasting blow from coronavirus

The International Energy Agency projects that the oil market will suffer a long-lasting blow from the coronavirus pandemic. It will take years to recover and peaks will be lower, says the agency.

Photo: Bloomberg/Bloomberg

The oil market will suffer a long-lasting blow from the coronavirus, with demand taking years to recover and peaking at a lower level, the International Energy Agency said.

After an unprecedented 8% drop this year, global oil consumption will return to pre-crisis levels in 2023, provided Covid-19 is brought under control next year, the Paris-based agency said on Tuesday.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Further reading

Related articles

Trial banner

Latest news

See all jobs