March 26, 2020 / 4:43 PM / 3 months ago

IEA says global oil demand could drop 20% as 3 billion people in lockdown

LONDON (Reuters) - Global oil demand could drop as much as 20 million barrels per day or 20% of total demand as 3 billion people are currently in a lockdown because of the coronavirus outbreak, the head of the International Energy Agency said.

Fatih Birol told a conference call that the IEA, which coordinates energy policies of industrialised nations, would give a clearer outlook and timeframe in two weeks time.

Reporting by Shadia Nasralla and Dmitry Zhdannikov. Editing by Jane Merriman

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