SECTORAL POLICIES / Energy

IEA predicts drop in oil demand due to coronavirus in first since 2009

Brussels, 09/03/2020 (Agence Europe)

For the first time since 2009, global oil demand is expected to decline in 2020 due to the coronavirus outbreak, the International Energy Agency (IEA) said on Monday 9 March. 

So while the IEA previously forecast an increase in global oil demand of 825,000 barrels per day (bpd) compared to 2019, the agency now anticipates a decrease of about 90,000 barrels per day, which would bring global oil demand in 2020 to 99.9 million barrels per day.

These forecasts are based mainly on two...