Growth driver: Workers are seen at an oil field in Bayingol, China. Barclays says oil demand growth will be led by emerging markets in Asia and Latin America. — Reuters
BENGALURU: Barclays forecast 2020 oil demand to rise by 1.4 million barrels per day (bpd), up from growth of 900,000 bpd in 2019, and an increase of 50,000 bpd from its earlier forecast, on an expected recovery in global economic activity.
The demand growth would be led by emerging market countries in Asia and Latin America. Much of this growth would come from India, where oil demand would increase by 250,000 bpd in 2020 from 2019, the bank said in a note.
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