2019 May Have Been Peak Year For Oil  Demand, BP Trying to Pivot

2019 May Have Been Peak Year For Oil Demand, BP Trying to Pivot

Yesterday, the world’s leading oil producers, the Organization of Petroleum Exporting Countries (OPEC), projected a larger decrease in oil demand than was predicted earlier in the pandemic.  The Hill reported that OPEC predicts oil demand will drop by 9.46 million barrels per day (bpd) rather than 9.06 million bpd. 

Why This Matters:  Big oil and gas companies like BP may be trying to put a good face on the bleak prognosis for oil, while they try to remain sunny about gas.

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