Barclays: Global Oil Demand Is Set To Jump In 2020

Barclays expects crude oil demand this year to rise by 1.4 million bpd, up from 900,000 bpd last year, thanks to the improved global economy outlook, Reuters reports, citing the bank. The new forecast is an upward revision of 500,000 bpd from Barclays’ previous oil demand prediction. In a note, Barclays said India will be the biggest driver of this heightened demand growth, followed by other Asian nations and countries in Latin America. Demand in the United States and China will also improve following the signing of the Phase 1 trade deal…