Follow us:
  • Facebook
  • Twitter
  • Google+
  • AppStore
  • RSS
Azernews.Az
Monday March 8 2021
  • Latest
  • Nation
  • World
  • Business
  • Oil & Gas
  • Armenian Aggression
  • Nagorno-karabakh conflict
  • Editorial
  • Analysis
  • Lifestyle
  • Events
  • Healthcare
  • Culture
  • Sports
  • Travel
Home
  • Home
  • Nation
  • World
  • Business
  • Oil & Gas
  • Armenian Aggression
  • Nagorno-karabakh conflict
  • Editorial
  • Analysis
  • Lifestyle
  • Events
  • Healthcare
  • Culture
  • Sports
  • Travel

Oil demand projected to drop by more than 10 pct for 2020

25 May 2020 11:15 (UTC+04:00)
1 950

By Trend

Oil demand is now projected to drop by 10.8 percent for 2020, or 10.7 million barrels per day (bpd) year-on-year, Trend reports citing Rystad Energy.

lOur estimates show that total oil demand in 2019 was approximately 99.5 million bpd, which is now projected to fall to 88.8 million bpd in 2020,” reads the report released by Rystad energy.

May demand is expected to fall by 21.1 percent to 77.9 million bpd. June demand is forecast at 84.5 million bpd, down by 14 percent.

Further ahead, total oil demand in 2021 is expected to average at 98.1 million bpd.

This update takes into account developments that have occurred up to and including Tuesday, 19 May.

Total oil demand in the United States for 2020 is now forecast to fall by 2.1 million bpd to 18.4 million bpd, a 10% decline from 2019’s 20.5 million bpd. April saw a decline of 29.6%, with demand falling to 14.1 million bpd. May will see a decline of 22.1%, with demand falling to 15.8 million bpd. June demand is estimated to decline by 15.1% to 17.5 million bpd.

US road fuel demand in 2020 will fall by 1.1 million bpd, a 10.5% decline to 10.1 million bpd from last year’s 11.2 million bpd. April saw a decline of 37%, with demand falling to 7.1 million bpd. May will see a decline of 20.5%, with demand falling to 9 million bpd. June’s road fuel demand will fall by 15.1% to 9.9 million bpd.

In 2021, total oil demand in the US is expected to average 19.9 million bpd and road fuel demand 10.8 million bpd.
Total oil demand in Europe for 2020 is now forecast to fall by 1.8 million bpd to 12.4 million bpd, a 13.2% decline from 2019’s 14.2 million bpd. April will saw a decline of 37.5%, with demand falling to 9 million bpd. May will see a decline of 28.4%, with demand falling to 10 million bpd, while June demand will drop by 19.3% to 11.4 million bpd.

Europe’s road fuel demand in 2020 will fall by 0.8 million bpd, a 12% decline to 6.2 million bpd from last year’s 7.0 million bpd. April saw a decline of 42.7%, with demand falling to 4.1 million bpd. May will see a decline of 27.2%, with demand falling to 5 million bpd. June demand will decline by 14.8% to 6 million bpd.

In 2021, total oil demand in Europe is expected to average at 13.6 million bpd and road fuel demand at 6.7 million bpd.

---

Follow us on Twitter @AzerNewsAz

  • #OIL DEMAND

Related News

Barkindo: 2020 oil demand to return to levels before 2014-2016 market downturn

Barkindo: 2020 oil demand to return to levels before 2014-2016 market downturn

5 June 2020 13:45
Oil demand in 2040 to range from 80 Mb/d to 130 Mb/d, says BP

Oil demand in 2040 to range from 80 Mb/d to 130 Mb/d, says BP

21 February 2019 11:22
Oil demand in 2040 to range from 80 Mb/d to 130 Mb/d, says BP

Oil demand in 2040 to range from 80 Mb/d to 130 Mb/d, says BP

20 February 2019 15:27
Which factors will dampen oil demand in 2019?

Which factors will dampen oil demand in 2019?

6 February 2019 12:48
Non-OPEC oil production growth is set to slow in 2019: IEA

Non-OPEC oil production growth is set to slow in 2019: IEA

20 January 2019 16:06
Oil demand in 2019 unlikely to grow: expert

Oil demand in 2019 unlikely to grow: expert

3 January 2019 09:50
Global oil demand growth to slow next year

Global oil demand growth to slow next year

10 July 2015 14:26
Global oil demand growth at 1.3 mn bpd in 2014: IEA

Global oil demand growth at 1.3 mn bpd in 2014: IEA

21 January 2014 18:57
IEA revises up global oil demand forecasts

IEA revises up global oil demand forecasts

18 January 2013 17:35
Global oil demand forecasted to rise by 1.24 mln bpd in 2014

Global oil demand forecasted to rise by 1.24 mln bpd in 2014

14 January 2013 20:18
  • Latest
  • Popular
08:00 • Azerbaijan celebrates International Women's Day
7 March 16:41 • Azerbaijan shows footage from Aghdam's Suma village [VIDEO]
7 March 15:02 • Azerbaijan confirms 127 more COVID-19 recoveries
7 March 12:30 • WHO official advises against introducing ‘immunity passports’ for travelers now
7 March 12:11 • Azerbaijan shows footage from Fuzuli's Garakollu village
7 March 11:53 • WHO reports over 353,000 new daily cases of COVID-19
7 March 11:40 • We successfully completed all steps taken, including ending occupation of Nagorno-Karabakh - Erdogan
7 March 11:17 • Foreign diplomats acquainted with Gulebird HPP in liberated Lachin of Azerbaijan [PHOTO]
7 March 11:00 • New hazelnut processing plant to open in Azerbaijan’s Zagatala
7 March 10:37 • Armenian occupants seriously damage Azerbaijan's ecology - Ministry [PHOTO]
7 March 10:18 • Azerbaijani Ministry of Education implementing innovative projects with Microsoft
7 March 10:00 • Azerbaijan issues footage from Jabrayil district's Papi village [VIDEO]
6 March 18:00 • Azerbaijan confirms 149 more COVID-19 recoveries
6 March 16:13 • Reps of diplomatic corps in Azerbaijan visit Fuzuli airport's construction area
6 March 15:42 • Turkish FM announces trilateral meeting between Azerbaijan, Turkey, Turkmenistan
6 March 15:17 • Lybian diplomat harshly condemns Armenia using mosque in Azerbaijani Fuzuli as stable
6 March 15:00 • Turkish investors have interest in Azerbaijan's business environment - Turkey's MUSAID
6 March 14:30 • President Aliyev addresses Ruling New Azerbaijan Party extraordinary congress [UPDATE]
6 March 14:00 • Azerbaijan shows footage from Zangilan's Garadere village (VIDEO)
6 March 13:30 • Azerbaijani FM, CoE Baku office discuss new action plan for cooperation
7 March 10:18 • Azerbaijani Ministry of Education implementing innovative projects with Microsoft
7 March 10:37 • Armenian occupants seriously damage Azerbaijan's ecology - Ministry [PHOTO]
7 March 12:30 • WHO official advises against introducing ‘immunity passports’ for travelers now
7 March 11:00 • New hazelnut processing plant to open in Azerbaijan’s Zagatala
7 March 11:53 • WHO reports over 353,000 new daily cases of COVID-19
7 March 11:17 • Foreign diplomats acquainted with Gulebird HPP in liberated Lachin of Azerbaijan [PHOTO]
7 March 11:40 • We successfully completed all steps taken, including ending occupation of Nagorno-Karabakh - Erdogan
7 March 10:00 • Azerbaijan issues footage from Jabrayil district's Papi village [VIDEO]
7 March 12:11 • Azerbaijan shows footage from Fuzuli's Garakollu village
7 March 15:02 • Azerbaijan confirms 127 more COVID-19 recoveries
7 March 16:41 • Azerbaijan shows footage from Aghdam's Suma village [VIDEO]
08:00 • Azerbaijan celebrates International Women's Day
See more
AzerNews Newspaper
AzerNews
  • Facebook
  • Twitter
  • Google+
  • RSS

Information

About us Contacts Advertising Azernews In Print

News Archive

© 2021 AzerNews. All rights reserved