OilPrice.com - Global Oil Demand To Return To Pre-Crisis Levels In Three Years

It will take three years for global oil demand to rebound to pre-pandemic levels, as jet fuel consumption continues to trend much lower than last year’s levels, according to Bank of America Securities.

While road fuel demand has recovered to nearly pre-COVID-19 levels, aviation fuel demand is struggling to take off materially as air travel is still significantly down compared to ‘normal’ levels from before the pandemic, BofAS said in a weekly energy reported carried by TradeArabia.

Air travel will not rebound until an effective vaccine or cure for COVID-19 is rolled out, the BofAS analysts said. An effective vaccine, however, is still 12 to 18 months down the line, according to the bank.

https://oilprice.com/Energy/Crude-Oil/Global-Oil-Demand-To-Return-To-Pre-Crisis-Levels-In-Three-Years.html