Oddbean new post about login | logout Oil benchmarks steady as demand concerns offset U.S. stimulus hopes ========== Oil benchmarks remain steady as concerns over global demand offset hopes of U.S. stimulus. The International Energy Agency (IEA) predicts a slower recovery in oil demand due to the resurgence of COVID-19 cases. The IEA expects global oil demand to decline by 8.1 million barrels per day in 2020. The U.S. Energy Information Administration (EIA) also forecasts a decline in global oil demand. However, hopes of a new U.S. stimulus package are providing some support to oil prices. The U.S. Congress is negotiating a new stimulus bill to support the economy. The bill could include measures to boost oil consumption and support the energy sector. The outcome of the stimulus negotiations will likely have a significant impact on oil prices. https://news.google.com/rss/articles/CBMiPWh0dHBzOi8vbWFsYXlhLmNvbS5waC9uZXdzX2J1c2luZXNzL29pbC1iZW5jaG1hcmtzLXN0ZWFkeS0xOS_SAT1odHRwczovL21hbGF5YS5jb20ucGgvbmV3c19idXNpbmVzcy9vaWwtYmVuY2htYXJrcy1zdGVhZHktMTkv