Global oil demand will decrease by 11.5 percent year on year, according to Rystad Energy’s latest demand forecast. Global oil demand will decrease by 11.5 percent, or 11.4 million barrels per day (MMbpd), year on year in 2020, according to Rystad Energy’s latest demand forecast. Total oil demand is projected to fall to 88.1MMbpd this year from approximately 99.5MMbpd last year, Rystad outlined. May demand is expected to fall by 20.5 percent to 78.5MMbpd and June demand is forecasted to hit 84MMbpd. Rystad believes total global demand for road fuels will fall by 9.9 percent, or 4.7 MMbpd, year on year to 42.7MMbpd. Jet fuel demand is anticipated to decline by almost 40.8 percent, or 2.9MMbpd, year on year to 4.3MMbpd. Rystad forecasts that in 2020, total oil demand in the United States will fall 11.8 percent, or 2.4MMbpd, to 18.1MMbpd and that total oil demand in Europe will […]