Today the International Energy Agency released its monthly oil market report and revealed it has lowered its 2020 global oil demand forecast by 140,000 barrels per day to 91.9 million barrels per day. This is 8.1 million barrels per day lower than last year, which is greater than the 7.9 million barrels per day difference it had predicted in July. This is the first downgrade in several months and it comes due to the stalling of mobility as the number of COVID-19 cases remains high, and air traffic staying stubbornly low. 2021 global demand estimate has been revised down by 240,000 barrels per day to 97.1 million ... (full story)