IEA head: No structural drop in global oil demand

Wednesday, 25. November 2020 09:52

No structural drop in oil demand is expected as a result of the coronavirus pandemic, International Energy Agency (IEA) Executive Director Fatih Birol said on Wednesday. Birol noted that unless governments act, the world will return to pre-pandemic levels of oil demand.

Speaking at a webinar on clean energy, the official stressed that China's oil demand in 2020 is expected to be higher than in 2019 despite the global crisis. Nevertheless, Birol said he sees oil demand growth rates being more moderate than earlier.

However, Birol noted that the use of hydrogen for energy needs will have to be multiplied by 100 in ten years.

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Breaking the News / VP