3 ms·
That's very selective reading. Here's what the article says: > The unprecedented collapse in worldwide mobility as a result of lockdowns and travel restriction
by antisthenes 5y ago
That's very selective reading. Here's what the article says:
> The unprecedented collapse in worldwide mobility as a result of lockdowns and travel restrictions in March and April 2020 slashed oil demand by over 20 million b/d, or 20% of total demand.
So the 20% drop was temporary, during the most strict lockdown months. Extrapolating that to longer-term periods is obviously a mistake.
> We expect about 75% or 6.3 million b/d of demand to come back in 2021
So the demand would be down by 5% (25% of 20%), YOY. No predictions as to how much it could come back in 2022.
The graph a little bit further down the article predicts oil demand to keep going up at least until 2035, and 2040 for all oil products.