Joe Wallace, Wall Street Journal, does an excellent job explaining the challenge in forecasting oil demand, here…
”Energy analysts are mapping out the course of the coronavirus and efforts to stop the pandemic, including limits on flights, cruises and the use of public transportation. They are also grappling with the effects on fuel demand of an economic downturn, rising unemployment, and changing patterns of work, study and travel.”
And, this… “The near future has become harder to predict, however. Forecasts by the International Energy Agency and the Organization of the Petroleum Exporting Countries have varied widely this year. Their monthly forecasts of demand in the next calendar quarter have differed by 1.3 million barrels a day on average, according to calculations by The Wall Street Journal. That is double the average gap in 2019.”
Do read the whole thing…
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