Global oil demand could dip 20% as 3bn in lockdown: IEA

Global oil demand could dip 20% as 3 billion in lockdown: IEA

Representative image: iStock Photo

Global oil demand could drop as much as 20 million barrels per day or 20% of total demand as 3 billion people are currently in a lockdown because of the coronavirus outbreak, the head of the International Energy Agency said.

Fatih Birol told a conference call that the IEA, which coordinates energy policies of industrialised nations, would give a clearer outlook and timeframe in two weeks time.