Global oil demand growth is accelerating to 1.26 million barrels per day (MMB/D) in 2020, up from 0.95 MMB/D growth in 2019, with growth expected in all regions except Western Europe and Japan, S&P Global Platts, the leading independent provider of information, analysis and benchmark prices for commodities and energy markets, stated in their 2020 outlook, just released. About 20 percent of that projected growth in oil demand is associated with the International Maritime Orgamisatio, IMO, bunker-fuel specification change, which will push high-sulfur fuel oil, no longer allowed for use in maritime shipping, into power generation, requiring more middle distillates and low-sulfur fuel oil to satisfy demand in the shipping sector. Demand growth will be increasingly reliant on emerging economies and led by distillates in 2020. Jet fuel demand is forecast to rise by 140,000 b/d. In addition, it may benefit from the return of the 737 Max airline […]