Oil Demand to Return to Pre-Pandemic Level by 2022
Analysts at Goldman Sachs have mentioned they expect global oil demand to return to pre-pandemic levels by 2022.
According to their estimate, demand should decline by 8% in 2020, rebound by 6% in 2021 and come back to its pre-COVID-19 level by 2022.
The International Energy Agency has mentioned it expects demand to reach a more “stable footing” over the coming months, going on to the largest one-year jump in oil demand ever recorded next year.
Over the long term, however, analysts at Goldman Sachs said they do not believe oil demand will peak before 2030.
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