OctaFX | OctaFX Forex Broker
Open trading account
Back

Russia's Novak: Global oil demand may drop by 150-200K bpd in 2020 vs. 2019

Global oil demand in 2020 could fall by between 150,000 and 200,000 barrels per day (bpd) when compared to 2019, Russia's Energy Minister Alexander Novak said on Friday, as reported by Reuters.

"Uncertainties in oil production persist in Libya, Iran and Venezuela," Novak added and noted that the oil production in the US was expected to rise by less than 1 million barrels per day in 2020. "We have no information on restrictions on Russian oil and gas supplies to China," Novak concluded.

WTI reaction

The barrel of West Texas Intermediate (WTI) edged lower on these comments and was last seen trading at $50.60, erasing 0.9% on a daily basis.

EUR/JPY Price Analysis: Downside could test 2020 lows near 119.80

EUR/JPY is extending further the recent rejection from monthly peaks just above 121.00 the figure (February 5th). The current decline breached the cri
Read more Previous

US Dollar Index Price Analysis: Next stop turns up at 98.93

The rally in the dollar stays everything but abated at the end of the week and is encouraging DXY to advance to the 98.60/65 band, reaching at the sam
Read more Next
Start livechat