Big Oil Confronts Possibility Of Terminal Demand Decline

[Brian W + 78]

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

https://www.ctvnews.ca/world/big-oil-confronts-possibility-of-terminal-demand-decline-1.5011438

 

[Dan Clemmensen + 1,011]

2 hours ago, Brian W said:

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

https://www.ctvnews.ca/world/big-oil-confronts-possibility-of-terminal-demand-decline-1.5011438

 

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.