The International Energy Agency - which advises Western governments on energy policy - said in its World Energy Outlook that in its central scenario a vaccine and therapeutics could mean the global economy rebounds in 2021 and energy demand recovers by 2023."The era of global oil demand growth will come to an end within the next 10 years, but in the absence in a large shift in government policies, I don't see a clear sign of a peak," IEA chief Fatih Birol told Reuters.
In a monthly report, it said oil demand will rise by 6.54 million bpd next year to 96.84 million bpd, 80,000 bpd less than expected a month ago. On the supply side, workers have been returning to US Gulf of Mexico platforms after Hurricane Delta and Norwegian workers to offshore rigs after ending a strike.
Source: News Formal (newsformal.com)
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