But the Paris-based IEA points to a number of encouraging signs of a recovery. FMTNews Paris
PARIS: Demand for petrol and diesel is set to heal by the end of the year but the coronavirus crisis is likely to leave scars on the airline industry and the oil market, the International Energy Agency said on Tuesday.
That is an improvement on its May estimate an 8.6 mbd reduction and the April estimate of a 9.3 mbd drop. “In the second half of the year the easing of lockdown measures in many countries should provide a boost,” it said.The IEA released its first forecasts for 2021, when it sees demand rising by 5.7 mbd “as activity begins to return to normal across vast swathes of the economy”.
“Unlike petroleum and diesel, which are likely to recover to close to pre-crisis levels by the end of 2020, the outlook for jet fuel is more uncertain,” it said.
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