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It’s been 10 years since there’s been an oil market like this: IEA
Oil markets this quarter are going to do something they haven’t done in more than 10 years. That’s the forecast of the International Energy Agency (IEA), a multination group of mostly consuming nations with a monthly report that is watched closely for supply-and-demand trends. And what the IEA said this month is that because of the effects of the coronavirus, demand for the quarter will be down year-on-year for the first time since the end of 2009, when the comparison was between the first months of the financial crisis in 2008 and a global economy that a year later was still trying to climb out of its ravages. ... (full story)