IEA says oil demand should weaken

On Tuesday (15), the International Energy Agency (IEA) has cut its projection for oil demand in 2020. According to the agency, demand for the product should lose strength until the end of the year.

The IEA estimates that around 200,000 barrels should be reduced per day (bpd), falling to 91.7 million bpd, in the second revision to lows numbers in two months. "We expect demand recovery decelerate markedly in the second half of 2020, with most of the easy gains already achieved," the IEA said in a monthly report, and continues: "the economic slowdown will take months to be fully Reversed… moreover, there is the potential for a second wave of the virus can reduce mobility again."

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