The renewed lockdowns in major European economies are set to weigh on the oil demand outlook, Keisuke Sadamori, Director of the Office for Energy Markets and Security at the International Energy Agency (IEA), told Reuters in an interview published on Monday. “Major parts of the European continent are in lockdown. This would surely work toward the negative side,” Sadamori told Reuters, but didn’t elaborate whether the IEA would reduce its outlook in its monthly oil market report expected this Thursday. In the latest report in October, the IEA left its 2020 forecast for global oil demand unchanged at 91.7 million barrels per day (bpd), down by 8.4 million bpd from 2019. For 2021, the agency expected in October oil demand at 97.2 million bpd, which would be a gain of 5.5 million bpd from 2020. The international agency cited in its October report the uncertainty about the pace of […]