Oil demand not helped by vaccines in 2021 with stocks still high
Opec+ plans to cut supplies also add to the existing high stockpiles
12 November 2020 - 11:36
London — Global oil demand is unlikely to get a significant boost from the rollout of vaccines against Covid-19 until well into 2021, the International Energy Agency (IEA) said on Thursday, a view that is likely to dampen oil price gains since vaccine progress was announced earlier this week.
“It is far too early to know how and when vaccines will allow normal life to resume. For now, our forecasts do not anticipate a significant impact in the first half of 2021,” the IEA said in its monthly report...
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