Demand for oil will likely be negative in 2020, adding further downward pressure to plummeting prices, according to BP CFO Brian Gilvary.
Around the time of its earnings report in early February, the energy giant anticipated that demand would weaken by around 300,000 to 500,000 barrels a day.
But on Monday, Gilvary told CNBC's "Squawk Box Europe": "If you ask me that question today, it is more like flat demand year-on-year, maybe even negative demand - we will probably likely see negative demand this year." Negative demand for a particular product exists when consumers dislike it to the extent that they would be prepared to pay more than the price of the product in order to avoid having to buy it.
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