{"id":111101,"date":"2020-03-31T23:20:55","date_gmt":"2020-03-31T20:20:55","guid":{"rendered":"https:\/\/www.enerjigazetesi.ist\/?p=111101"},"modified":"2020-03-31T23:40:41","modified_gmt":"2020-03-31T20:40:41","slug":"kuresel-petrol-talebi-yuzde-20-oraninda-azalabilir","status":"publish","type":"post","link":"https:\/\/www.enerjigazetesi.ist\/en\/kuresel-petrol-talebi-yuzde-20-oraninda-azalabilir\/","title":{"rendered":"Global Oil Demand Could Fall 20% In Coronavirus Lockdown"},"content":{"rendered":"

<\/p>\n

Whole cities, towns, regions and countries are in lockdown owing to the coronavirus or Covid-19 global pandemic with shutdowns stretching from the Philippines to Canada and much else in between.<\/h1>\n

Earlier this week, India \u2013 the world’s second-most populous country \u2013 initiated\u00a0its lockdown to control the virus outbreak<\/strong>. That’s a $2.7 trillion GDP economy<\/strong> of over 1.3 billion<\/strong> people grinding to a virtual halt. With each passing day, the question on every energy forecasters<\/strong>‘ mind is what such \"\"lockdowns<\/strong> will do to crude demand.<\/p>\n

None of the big Asian crude importers \u2013 namely China, India, Japan and South Korea<\/strong> \u2013 would be now be importing anywhere near the\u00a0levels we saw in 2019<\/strong>. Consider this, India alone imports at a rate of 5 million<\/strong> barrels per day (bpd).<\/p>\n

With a three-week lockdown<\/strong> in place, in theory India could do with nearly 100 million<\/strong> barrels less from the current flag end of the third quarter of 2020 well<\/strong> into the first month of the second quarter. Even if in practice, survey data later reveals that the burgeoning economy failed to import around 50%<\/strong> of the feared figure, that still equates to a devastating impac<\/strong>t on headline consumption.<\/p>\n

Now the International Energy Agency (IEA)<\/strong> has said that depending on how quickly the coronavirus pandemic is brought under control, oil demand<\/strong> could be a fifth less per day from its previous projection rate of around ~100 million bpd.<\/p>","protected":false},"excerpt":{"rendered":"

Whole cities, towns, regions and countries are in lockdown owing to the coronavirus or Covid-19 global pandemic with shutdowns stretching from the Philippines to Canada and much else in between. Earlier this week, India \u2013 the world’s second-most populous country \u2013 initiated\u00a0its lockdown to control the virus outbreak. That’s a $2.7 trillion GDP economy of […]<\/p>\n","protected":false},"author":1,"featured_media":111104,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[53,44],"tags":[69527,69525,52407,69533,69530,68878,69529,69532,69531,42491,52379,52259,818,69528,68097,28933,1023,15877,66251,69523,68873,42714,68408,67259,53153,69526,1314,69401,1022,56703,69524],"views":135,"_links":{"self":[{"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/posts\/111101"}],"collection":[{"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/comments?post=111101"}],"version-history":[{"count":3,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/posts\/111101\/revisions"}],"predecessor-version":[{"id":111111,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/posts\/111101\/revisions\/111111"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/media\/111104"}],"wp:attachment":[{"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/media?parent=111101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/categories?post=111101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/tags?post=111101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}