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Oil demand downgraded amid ‘worse global energy crisis in history’

Tankers will remain buoyed for now by a further 1.3m barrels per day of crude and 965,000 bpd in oil products that need to be redirected when European sanctions on Russia begin

Both the International Energy Agency and the Organisation of the Petroleum Exporting Countries lower oil demand forecasts in monthly reports released this week relating to the remainder of 2022 and 2023

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