Oil demand is expected to be down by nearly 30 million barrels per day (mb/d) in April and down by almost 10 mb/d for the entire year, according to the latest estimates. But some forecasts still optimistically assume that demand bounces back in the second half of the year, a scenario that may not come to pass. Since February, investment banks repeatedly revised down their numbers with each passing week. It took until April for the consensus to arrive at a temporary demand hit of 25 to 30 mb/d. However, many forecasts still assume the global economy rebounds after the second quarter in a “V-shaped” recovery. For ... (full story)