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Coronavirus’s Worst Impact on Oil Demand Has Passed, IEA Says

July 10, 2020

LONDON—The worst effects of the coronavirus on global oil demand have passed but will continue to echo as the market slowly recovers in the second half of 2020, the International Energy Agency said Friday.

In its closely read monthly report, the IEA said global oil demand in the first half of 2020 plunged by 10.75 million barrels a day, down roughly 11% from last year. It forecast oil demand would be down by 5.1 million barrels a day in the second half of the year.

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