Advertisement

Updated March 9th, 2020 at 14:56 IST

Coronavirus set to cause first annual decline in oil use since 2009: IEA

The world is set for its first annual decline in oil consumption in more than a decade due to the impact of the coronavirus outbreak, the IEA said on Monday

CORONAVIRUS
| Image:self
Advertisement

The world is set for its first annual decline in oil consumption in more than a decade due to the impact of the coronavirus outbreak, the IEA said on Monday.

In its latest report, which did not take into account an oil price war that has broken out after Saudi Arabia and Russia failed to agree to continue production cuts, the International Energy Agency chopped its forecast for oil demand by 1.1 million barrels per day (mbd) in its base case scenario. 

READ: Coronavirus Outbreak: China Closes Makeshift Hospitals As New Cases Decline

Advertisement

Published March 9th, 2020 at 14:56 IST

Your Voice. Now Direct.

Send us your views, we’ll publish them. This section is moderated.

Advertisement
Advertisement

Trending Quicks

Bollywood actor Govinda
a few seconds ago
Elon Musk X lawsuit
a few seconds ago
Government bonds
a few seconds ago
Supriya Shrinate clarification
9 minutes ago
vk saxena
13 minutes ago
Shahjahan Sheikh in CBI Custody: First Visual Emerges | WATCH
13 minutes ago
Pakistan Supreme Court
15 minutes ago
AR Rahman, Ram Charan
17 minutes ago
File Photo of PM Narendra Modi
19 minutes ago
Advertisement
Advertisement
Advertisement
Whatsapp logo