Oil Trading House Vitol Says Demand Is Down as Much as 20%

Javier Blas

and

Annmarie Hordern

March 25, 2020, 8:01 AM EDT Updated on March 25, 2020, 9:13 AM EDT

Vitol says consumption has dropped 15-20 million barrels a day
CEO Russell Hardy says crude prices will drift down further

WATCH: Vitol CEO Russell Hardy discusses the outlook for oil demand amid the coronavirus turmoil.

/covid

Global oil demand has fallen as much as 20% from last year as more countries lockdown billions of people inside their houses in a bid to halt the spread of the coranavirus, the world’s top independent oil trader said.