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OPEC Slashes 2020 Oil Demand Estimates Again as COVID Persists

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   |    Thursday,September 17,2020

OPEC has cut its oil demand expectations for 2020 again due to the ongoing COVID-19 pandemic.

The organization estimates that oil consumption will settle around 90.2 million BOPD for the year. This is a decrease of 400,000 BOPD from its August update.

Additionally, it's a decrease of 10% (or 9.5 million BOPD) compared to 2019's demand average.


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