Global oil demand will start to recover in the second half of the year from the crash in the second quarter, but it will still be down by 6.4 million bpd in H2 from year-ago levels as demand for fuels will continue to be constrained by the coronavirus pandemic and the measures to contain it, OPEC said in its Monthly Oil Market Report (MOMR) on Wednesday. According to the cartel, the loss in global oil demand will slow to 6.4 million bpd in the second half of the year, compared to an estimated decline of 11.9 million bpd in the first half of the year. OPEC left its full-year 2020 global oil demand projection unchanged at a decline of 9.1 million bpd. “Transportation fuels are forecast to remain under pressure in 2H20, despite ongoing easing in lockdown measures. Aviation fuel is expected to continue facing challenges, as national and […]