Global demand for road fuels hit a two-month high last week, recovering from the slowdown in October and November when many countries in Europe imposed lockdowns for a second time this year, according to various data points about road use, traffic jams, and road freight services tracked by Bloomberg . Last week, global road usage was 24 percent below the typical levels before the pandemic, but this was an improvement from the road travel and freight transportation in the middle of November, when road usage was 30 percent below pre-COVID levels, according to Bloomberg’s analysis. Traffic and fuel use in Asia is strong, while demand is also ticking up in Europe, where several countries, including the UK, ended nationwide lockdowns earlier this month. According to Bloomberg’s traffic and road usage data, global oil demand recovery is on a three-speed road—Asian demand is the strongest, followed by Europe and the […]