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Originally Posted by Ozy_Flame
While I think it's a bit early to be making statements like this since we aren't completely out of lockdown and don't know how corporate culture will be affected long term, I have no doubt that we have accelerated work-from-home culture that will have an impact on business travel and where/how we commute.
Goldman Sachs official says companies switching to Zoom instead of business travel could hit oil demand by up to 3 million barrels per day
he coronavirus pandemic will take a lasting chunk out of business travel and hit demand for oil as companies adapt to Zoom and other video-conferencing tools, a Goldman Sachs official said Thursday.
“I think you’re going to lose a good chunk of the jet demand that would have been associated with business travel. Our base case is you lose somewhere around 2 to 3 million barrels per day,” said Jeff Currie, Goldman’s global head of commodities research, at a media briefing.
Global oil demand is expected to fall by 9.3 million barrels per day in 2020, according to the International Energy Agency. |
This really should be looked at as one of the great positives of this pandemic, less oil being burned on a daily basis is a win for everyone, even if they can't admit it