Here are a couple of takeaways from the IEA’s monthly Oil Market Report released today…
”In this Report, we have reduced our estimate for global demand growth in the second half of this year by 0.4 mb/d.”
“With the on-coming northern hemisphere winter, we will enter uncharted territory regarding the virulence of Covid-19. In last month’s Report, we said that the market was in a state of “delicate re-balancing”. One month later, the outlook appears even more fragile.”
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