Oil demand is being battered by lockdowns and the effects of a price war, but the International Energy Agency says there are early signs of a 'gradual rebalancing'
Coronavirus lockdowns will deal another blow to global oil demand in May, despite the largest coordinated monthly production cut on record, the International Energy Agency said Thursday.
In its monthly oil-market report, the IEA projected global demand to drop by 21.5 million barrels a day this month, while crude-producing nations and companies slash output by 12 million barrels a day.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
U.S. EIA cuts 2020 world oil demand growth forecastThe U.S. Energy Information Administration on Tuesday cut its 2020 world oil demand growth forecast by 2,900,000 barrels per day to 8.13 million bpd.
Weiterlesen »
Oil prices edge higher on surprise U.S. stock drawdown, but demand concerns lingerOil prices crept up on Thursday, supported by a surprise decline of U.S. crude inventories, but gains were capped by worries that a potential second wave of the coronavirus pandemic might trigger fresh lockdowns and slam fuel demand once again.
Weiterlesen »
Twilio CEO Jumps Back Into Billionaire Ranks As Demand For Cloud Computing Services SurgesJeff Lawson, the CEO of cloud communications platform Twilio, is once again a billionaire after shares of the company hit an all-time high after a positive first-quarter earnings report
Weiterlesen »
Companies ramping up at-home saliva tests for coronavirus are banking on 'endless' demandA handful of U.S. health care companies are banking on massive demand for coronavirus tests and an easing of federal rules as they prepare for a major production blitz that could bring at-home saliva test kits to millions of Americans in the coming months. “The plan is to keep scaling,” said Jason Feldman
Weiterlesen »
Carpe Denim: Will the Jeans Industry Survive COVID-19 Amid Higher Demand for Comfort?Shifts toward comfort and at-home lifestyles have significantly disrupted the denim industry.
Weiterlesen »