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Global oil demand is set to contract in 2020 for the first time in more than a decade as global economic activity stalls due to the coronavirus, the International Energy Agency said on Monday. The downward revision came as oil prices dropped as much as third in their biggest one-day fall since the 1991 Gulf War after Saudi Arabia launched a bid for market share following the collapse of an output pact with Russia. The energy watchdog said it expected oil demand to be 99.9 million barrels per d
Continue reading Coronavirus sends oil demand into first big drop since 2009 recession
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Coronavirus sends oil demand into first big drop since 2009 recession
