Global oil demand will likely to recover to above pre-pandemic levels in the future despite some predictions that the crisis may have already triggered a structural decline in world oil consumption, the head of the International Energy Agency said July 6. Most market watchers see global oil demand recovering to pre-COVID levels of around 100 million b/d over the next two years after collapsing by an expected 8 million-9 million b/d in 2020. Last month, the IEA forecast that global demand for crude is not expected to recover until 2022. Last week, however, Norwegian energy consultants DNV GL said oil demand may have already peaked as the coronavirus […]