Energy agency says global oil demand could drop 20 per cent as 3 billion people in lockdown

A photo taken on March 26, 2020, shows an empty highway in Beirut, as Lebanon is set to extend a countrywide lockdown by two weeks to combat the spread of coronavirus.
A photo taken on March 26, 2020, shows an empty highway in Beirut, as Lebanon is set to extend a countrywide lockdown by two weeks to combat the spread of coronavirus.PHOTO: REUTERS

LONDON (REUTERS) - Global oil demand could drop as much as 20 million barrels per day or 20 per cent of total demand as 3 billion people are currently in a lockdown because of the coronavirus outbreak, the head of the International Energy Agency said.

Fatih Birol told a conference call that the IEA, which coordinates energy policies of industrialised nations, would give a clearer outlook and timeframe in two weeks time.