Global oil demand is up as the world starts moving again
China, which is leading the recovery, is back to more than 90% of its pre-coronavirus levels, with petrol and diesel use expected to accelerate
03 June 2020 - 13:34
Beijing/New York/Tokyo — China’s oil demand has recovered to more than 90% of the levels seen before the coronavirus pandemic struck early this year, a surprisingly robust rebound that could be mirrored elsewhere in the third quarter as more countries emerge from lockdowns.
While China — the world’s second-largest oil consumer — is the outlier for now, easing travel restrictions and stimulus packages aimed at resuscitating economies could accelerate global oil demand in the second half of 2020, industry executives said...
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