International Energy Agency

  • European demand slipping with Q4 lower that Q3 due to re-imposed lockdowns
  • Several months before vaccines make impact on global demand
  • Global oil stocks to move into deficits compared with end of 2019 levels
  • Poor aviation demand reason for downgraded forecasts
  • 2021 forecast revised down in 170,000 bpd

Nothing unexpected here barely moved on the report at 46.90.