Post-COVID Global Oil Demand Analysis Update – EOY 2020 & the Impact of Second-Wave Shutdowns

In this week’s episode of the Periodical Podcast, your hosts Kevin and Tavis uncover the fact that world crude oil demand in the first quarter of 2020 declined by the largest volume in history – even exceeding declines during the 2009 financial crisis. But, as economic recovery resumes, the demand for hydrocarbons will begin to rise and will quickly surpass pre-pandemic levels. While the initial timeline has been delayed as a result of a second wave of lockdowns and sustained travel restrictions, people around the world will still need plastics for their daily activities, roads and vehicles to travel from place to place, goods and services created and shipped with hydrocarbons, and other consumables derived from crude oil. While initial recovery estimates by RARE PETRO, the IEA, and EIA have changed, join us as we discuss why hydrocarbon demand is on the rise. 

Music: https://www.bensound.com/royalty-free-music

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