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rdf:type	schema:NewsArticle
schema:articleBody	The International Energy Agency (IEA) trimmed its global oil demand forecasts Tuesday as the massive coronavirus pandemic hit to the aviation industry will likely be worse than expected next year. For this year, total oil demand will fall by 8.8 million barrels per day (mbpd) to 91.2 mbpd, reflecting a marginal downward revision to the estimate given in its last monthly report in November, the IEA said. For 2021, the IEA said it had cut its oil demand growth estimate by 170,000 bpd to 5.7 mbpd "mainly because of another downgrade for jet fuel/kerosene demand." Aviation fuel demand is "not expected to recover quickly, as governments intend to keep in place border closures and travel restrictions until a vaccine is widely available." "In 2021, demand for both gasoline and diesel is projected to return to 97-99 percent of their 2019 levels," it added. The IEA noted that on the supply side, OPEC and allied oil producers, principally Russia, had agreed to slowly increase output earlier this month but all recognised that the market remained fragile and required careful management. jmi/ak/bmm/wdb
schema:headline	IEA trims oil demand forecasts on aviation woes
schema:mentions	OPEC Diesel fuel Alaska Russia Pandemic Vaccine Coronavirus disease 2019 Total S.A. Aviation fuel Kerosene Jet fuel Price of oil International Energy Agency
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-12-15 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	74 (xsd:integer)

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