PARIS, – Although crude prices have rebounded from coronavirus crisis lows, oil execs and experts are starting to ask if the industry has crossed the Rubicon of peak demand. The plunge in the price of crude oil during the first wave of coronavirus lockdowns — futures prices briefly turned negative — was due to the drop in global demand as planes were parked on tarmacs and cars in garages. The International Energy Agency (IEA) forecast that average daily oil demand will drop by eight million barrels per day this year, … Continue reading Big Oil confronts possibility of terminal demand decline