Peak Oil Review – 16 March 2020
Global oil consumption is in free-fall, heading for the biggest annual contraction in history, as more countries introduce unprecedented measures to fight the coronavirus outbreak. Travel bans, work-from-home, canceled vacations, and disrupted supply chains across the world all mean reduced demand for fuel. As societies respond to the virus, oil demand — already hurt by China’s shut down of parts of its economy — is falling further.