The outbreak of COVID-19 and its subsequent restrictions had a dramatic impact on transportation, causing oil demand to plummet worldwide. This was especially prevalent in the second quarter of 2020, during peak lockdowns. During this quarter, the daily global oil demand was 16.3 million barrels below 2019 levels.
It is expected that the easing of restrictions around the world in 2021 will see demand rise again.
Net change in oil demand worldwide from Q1 2020 to Q4 2021 relative to 2019 levels*
(in million barrels of oil per day)
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IEA. (October 26, 2022). Net change in oil demand worldwide from Q1 2020 to Q4 2021 relative to 2019 levels* (in million barrels of oil per day) [Graph]. In Statista. Retrieved December 23, 2024, from https://www.statista.com/statistics/1242558/change-in-oil-demand-worldwide/
IEA. "Net change in oil demand worldwide from Q1 2020 to Q4 2021 relative to 2019 levels* (in million barrels of oil per day)." Chart. October 26, 2022. Statista. Accessed December 23, 2024. https://www.statista.com/statistics/1242558/change-in-oil-demand-worldwide/
IEA. (2022). Net change in oil demand worldwide from Q1 2020 to Q4 2021 relative to 2019 levels* (in million barrels of oil per day). Statista. Statista Inc.. Accessed: December 23, 2024. https://www.statista.com/statistics/1242558/change-in-oil-demand-worldwide/
IEA. "Net Change in Oil Demand Worldwide from Q1 2020 to Q4 2021 Relative to 2019 Levels* (in Million Barrels of Oil per Day)." Statista, Statista Inc., 26 Oct 2022, https://www.statista.com/statistics/1242558/change-in-oil-demand-worldwide/
IEA, Net change in oil demand worldwide from Q1 2020 to Q4 2021 relative to 2019 levels* (in million barrels of oil per day) Statista, https://www.statista.com/statistics/1242558/change-in-oil-demand-worldwide/ (last visited December 23, 2024)
Net change in oil demand worldwide from Q1 2020 to Q4 2021 relative to 2019 levels* (in million barrels of oil per day) [Graph], IEA, October 26, 2022. [Online]. Available: https://www.statista.com/statistics/1242558/change-in-oil-demand-worldwide/
