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Petróleo

Sizing up oil demand recovery scenarios after a shocking spring

Gas natural | Petróleo

Platts Scenario Planning Service

Petróleo | Crudo

La CHN permite a Pemex incrementar el gasto en campo Jiliapa

Petróleo | Crudo

La CHN permite a Pemex incrementar el gasto en campo Jiliapa

Escuchar: Sizing up oil demand recovery scenarios after a shocking spring

With the world locked down for the coronavirus, global oil demand is seeing its sharpest plunge on record.

Current estimates have 2020 oil demand contracting by as little as 6.8 million b/d, as predicted by OPEC, to as much as 9.3 million b/d, according to the International Energy Agency.

Still further downgrades are possible based on when economic activity starts to return. But so much is unknown about that timeline all across the globe. So how does an oil analyst predict future demand in the face of so much uncertainty?

Claudio Galimberti, S&P Global Platts Analytics' head of demand, refining and agriculture, shares some of the potential recovery scenarios and what factors will influence whether the 2020 oil demand outlook stabilizes or sinks further.

Related coverage: NYMEX WTI settles in negative territory for first time ever amid lack of storage