Coronavirus highlights that demand for oil is everywhere

The global coronavirus pandemic had a profound effect on societies and economies, but on a side note, it has also highlighted the pervasiveness of oil demand. Despite a hard hit to global economies as shutdowns were ordered in many countries, total oil demand fell at most 20% in April and was not hit as hard as many feared. This Insight looks at how oil demand was affected and explains why it did not collapse further at the lowest point.