Global oil demand is expected to fall even more steeply than predicted according to the International Energy agency.
As the pandemic continues, the effect on air travel is the driver behind the falling demand. If the IEA is correct then we can expect prices to fall as demand declines.
Elsewhere seven of the top oil firms in the world have recently reassessed the value of assets downward by $87 billion. The fossil fuel future may not be as rosy as they previously predicted.
