Demand for energy has begun to rise as economies across the globe slowly emerge from the slump of COVID-19, according to Oil Price. However, some market analysts fear that the world will never get back to previous oil demand levels of 100mb/d.
“We basically have a crisis of uncertainty. Uncertainty about demand, about prices,” said Royal Dutch Shell’s CEO Ben van Beurden. “We do not expect a recovery of oil prices or demand for our products in the medium term.”
Some predict that the social distancing measures enacted for the COVID-19 pandemic may leave behind permanent societal norms which lead to less demand for oil than before.
Read More