HomeMediaLatest NewsHow did the pandemic change the demand for petroleum products

How did the pandemic change the demand for petroleum products

23 September 2021

Salikhov Marcel R. President, Principal Director on Economic Studies, Head of the Economic Department

Marcel Salikhov, Director of the Center for Economic Expertise of the Institute for Public Administration and Governance of the Higher School of Economics, commented on the dynamics of the world oil demand recovery to the Regnum information agency.

Global oil demand will surpass the 2019 level as early as 2022, - Marcel Salikhov notes, commenting on forecasts that global demand for oil may no longer recover to the level of 2019.

“Such a scenario is unlikely,” Salikhov said. - Judging by the current dynamics, global oil demand will exceed the 2019 level already in 2022. Although demand for aviation kerosene will not recover by that time due to continued weakness in international air travel, global gasoline demand will exceed 2019 by 0.6-0.8 million barrels per day in 2022. To some extent, the coronavirus pandemic is driving structural changes in the demand for petroleum products, with a greater focus on gasoline. Personal transport has become more often used for long-distance travel. "


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