{"id":396216,"date":"2021-01-19T15:34:07","date_gmt":"2021-01-19T10:04:07","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=396216"},"modified":"2021-01-19T15:34:07","modified_gmt":"2021-01-19T10:04:07","slug":"resurgence-in-covid-19-cases-slows-oil-demand-rebound-iea","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/resurgence-in-covid-19-cases-slows-oil-demand-rebound-iea\/","title":{"rendered":"Resurgence in COVID-19 cases slows oil demand rebound &#8211; IEA"},"content":{"rendered":"<p>Oil demand recovery will take a hit from a spike in new coronavirus cases before vaccine roll-outs and stimulus measures help in the second half of the year, International Energy Agency (IEA) said on Tuesday.<\/p>\n<p>&#8220;Border closures, social distancing measures and shutdowns&#8230;will continue to constrain fuel demand until vaccines are more widely distributed, most likely only by the second half of the year,&#8221; it said in its monthly report.<\/p>\n<p>&#8220;This recovery mainly reflects the impact of fiscal and monetary support packages as well as the effectiveness of steps to resolve the pandemic,&#8221; the IEA said.<\/p>\n<p>Noting that an improvement to global oil demand went into reverse in December, the Paris-based watchdog lowered its forecast for the first quarter by 580,000 barrels per day (bpd) and its outlook for 2021 by 300,000 bpd.<\/p>\n<p>Supply and demand are on track for recovery this year, and efforts by major producers to balance the market by reining in output are helping draw down oil stocks worldwide.<\/p>\n<p>Given the expected increase in the second half of the year, however, &#8220;much more oil is likely to be required&#8221;.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil demand recovery will take a hit from a spike in new coronavirus cases before vaccine roll-outs and stimulus measures help in the second half of the year, International Energy Agency (IEA) said on Tuesday. &#8220;Border closures, social distancing measures and shutdowns&#8230;will continue to constrain fuel demand until vaccines are more widely distributed, most likely only by the second half of the year,&#8221; it said in its monthly report. &#8220;This recovery mainly reflects the impact of fiscal and monetary support packages as well as the effectiveness of steps to resolve the pandemic,&#8221; the IEA said. Noting that an improvement to [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[133],"tags":[],"class_list":["post-396216","post","type-post","status-publish","format-standard","hentry","category-oil-gas"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/396216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=396216"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/396216\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=396216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=396216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=396216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}