Rystad Energy - COVID-19 Report - Scenarios and impact on global energy markets

Highlights of this edition include:

• As of 14 April, 39 million people have likely been infected with Covid-19, according to our updated model. Reported cases were approximately 2 million as of 14 April, a number which our analysis suggests represents just 5% of true cases.
• We also anticipate that fields will need to be shut-in globally as storage will quickly fill to its limit. The current OPEC+ deal will contribute to these shut-ins, but the announced cuts are not large enough to secure a market balance.
• Global liquids demand will fall by 27% to 72.5 million bpd, and 90.3 million bpd for the full year, after the impact of lockdowns and travel restrictions.

https://www.rystadenergy.com/newsevents/news/press-releases/covid-19-demand-update-oil-seen-down-9point6-jet-fuel-down-31-road-fuel-down-9point6-in-20202/