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IHS Markit estimates for global liquid demand point to a year-on-year contraction of more than 14 MMb/d in the second quarter.
March 27, 2020
By: Anthony Locicero
Copy editor, New York Post
Light-speed oil surplus: Blink and you’ll miss it. Last week marked the decisive inflection point for markets in terms of recognizing the scale of the looming surplus as major countries across Europe and North America shut down. Our latest estimates for global liquids demand point to a year-on-year contraction in the second quarter of 2020 of more than 14 MMb/d. With supply on its current trajectory, this sets up implied global liquids builds of more than 12 MMb/d in the second quarter. Market...
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