The US Energy Information Administration on Nov. 10 cut its outlook for 2021 global oil demand growth by 360,000 b/d from last month’s forecast to 5.9 million b/d on uncertainty surrounding the pandemic response. Receive daily email alerts, subscriber notes & personalize your experience. Register Now EIA now expects global oil demand to average 92.9 million in 2020, plunging from 101.5 million b/d in 2019, as a result of the coronavirus pandemic. EIA forecasts global oil demand at 98.8 million b/d in 2021. The outlook comes a day after US pharmaceutical maker Pfizer announced promising results in a coronavirus vaccine study. Widespread distribution of an effective vaccine would lead to a surge in global oil demand as economies and borders open back up. EIA also […]