Friday, September 26, 2025
Oil industry paints grimmer picture of pandemic's harm to demand- oil and gas 360

Oil industry paints grimmer picture of pandemic’s harm to demand

Reuters SINGAPORE/LONDON/NEW YORK  – Major oil industry producers and traders are forecasting a bleak future for worldwide fuel demand, due to the coronavirus pandemic’s ongoing assault on the global economy. The novel coronavirus hammered fuel demand in the spring, causing consumption to drop by more than one-third as billions of people worldwide restricted their movements. Consumption rebounded in the summer,