March 25, 2020 / 2:37 PM / 2 months ago

Global oil demand forecast to fall by 4.9 mln bpd in 2020: Rystad

LONDON (Reuters) - Global oil demand could fall by as much as 4.9 million barrels per day (bpd), or by about 4.9%, in 2020 due to the coronavirus outbreak, Norway’s biggest independent energy consultancy Rystad Energy said on Wednesday.

The consultancy had forecast last week it would fall by 2.8 million bpd in 2020.

Rystad said oil demand in the month of April was forecast to fall by 16 million bpd, compared to a year earlier.

Rystad forecast a fall in jet fuel demand year on year of 20%, or 1.4 million bpd, while air traffic was expected to drop 8%. It said demand for vehicle fuel would fall 5.6%, or by 2.8 million bpd, year on year.

Reporting by Ahmad Ghaddar; Editing by Edmund Blair

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