Renewed oil demand weakness led by China and India along with concerns over the persistent challenges of the coronavirus pandemic has raised further questions over the oil market’s “fragile rebalancing,” the International Energy Agency said Sept. 15 in its monthly report.  The IEA revised down its oil demand outlook by 300,000 b/d for 2020 and now predicts a contraction of 8.4 million b/d, citing renewed concerns around COVID-19. It pointed to the winter in the northern hemisphere as being “unchartered territory” for the virus, along with huge challenges in key demand hubs. The Paris-based agency said at 91.7 million b/d, demand has returned to its level in 2013 and highlighted India, which has seen a continued upsurge in infections, contributing in August to the biggest month-on-month fall of oil demand there since April. The IEA […]