Global oil demand could drop by 20% due to virus: IEA

ANKARA

The global oil demand which is 100 million barrels per day (bpd) could fall by 20 million bpd as 3 billion people in the world are under lockdown due to coronavirus pandemic, said the executive director of International Energy Agency on late Thursday. 

During a virtual fireside chat — titled COVID-19 and the Future of Energy Markets — hosted by Washington based Atlantic Council, Fatih Birol said the oil market is going through a unique period in history.

“For the first time since decades, we see both the falling oil demand and huge oversupply at the same time. This

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