Gasoline Demand Remains Resilient During European Lockdowns

A Rystad Energy analysis of Europe’s real time traffic data has revealed that the road fuel demand destruction during the prevailing second wave of Covid-19-related lockdowns will be limited to just 900,000 barrels per day (bpd) for November 2020, when compared to the same period of 2019. The impact is weaker compared to April, as this lockdown is less extensive and as Europeans show lower compliance to restrictions than before. A third contributing factor is that people are more hesitant to use public transportation due to inherent infection…