Rystad Energy slashes its global oil demand growth forecast for 2020 by 25 percent after assessing the impact of the coronavirus. Rystad Energy revealed Tuesday that it has slashed its global oil demand growth forecast for 2020 by 25 percent after assessing the impact of the coronavirus. The company now sees demand growing by 820,000 barrels per day (bpd) this year, compared to its previous forecast of 1.1. million bpd, which was published in December before the virus outbreak. Rystad has warned, however, that the virus’ impact on demand could be even bigger and revealed that its worst-case scenario sees growth plunging to 650,000 bpd year on year. “Our current assessment implies that the impact of coronavirus will persist throughout all of February and March and will then gradually subside towards June 2020,” Bjornar Tonhaugen, Rystad Energy’s senior vice president and head of oil markets, said in a company […]