Oil demand to plunge by 10.5 million bpd in March, more in April -Goldman Sachs
Share:
(Reuters) - Goldman Sachs expects oil demand to fall by 10.5 million barrels per day (bpd) in March and possibly by as much as 18.7 million bpd in April, the Wall Street bank said in a note dated March 25."A demand shock of this magnitude will overwhelm any supply response including any potential core-Organization of the Petroleum Exporting Countries output freeze or cut," the investment bank said.Refiners across the world have been reducing operations as the spread of the coronavirus has led to..