Experts: world demand for oil will collapse by the end of the year

Oil demand expects a sharp drop, S&P agency warns Global Platts. In addition, it will not be able to achieve next year. levels preceding the coronavirus pandemic. This opinion was announced at the agency's virtual conference. According to the president of the agency, Martin Frankel, by the end of the current conference. During the year the demand for oil will decrease by 8 million b/s on average. В in comparison with the figures of previous years, these volumes are very large, noted he. The global decline in demand was due to quarantine measures, adopted worldwide due to the coronavirus pandemic. Volumes reserves in oil storage facilities continue to increase. In the September report of the IEA, it was pointed out that the pace of recovery demand for raw materials after quarantine is now declining due to risk the emergence of a new wave of pandemic. This week, the focus of attention of market players is the meeting of the OPEC+ monitoring committee, scheduled for Thursday.