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Big Oil Confronts Possibility Of Terminal Demand Decline

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2 hours ago, Brian W said:

The latest fall in oil prices has some analysts wondering if the world has passed peak demand.


This article in the general press is fairly superficial. OilPrice and the rest of the trade press has been covering this for some time. I do think it is useful for us to keep track of what the general press is saying when they finally do catch on like this. In a nutshell, the article says IEA is estimating an 8% drop in annual demand for 2020 vs. 2019, recovering to around 3.6% drop for 2021 vs.2019, and speculating that the out years will not be any higher. Same news we started to see in April.

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