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End game for oil? OPEC prepares for an age of dwindling demand

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By Alex Lawler

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© Thomson Reuters 2020.

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This is not bad news. We have been using too much oil. We need to keep reducing our dependency on it.

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The International Air Transport Association (IATA) does not expect air travel to reach 2019 levels until 2023 - at the earliest."Once aviation recovers by end-2023, demand will go back to normal -- aside from the competition from other sources of energy," said a second OPEC official involved in forecasting, highlighting the difficulty of making predictions amid a global trend towards using more renewables and other fuels.

This is arrogantly optimistic, I doubt overseas business travel will ever regain it's former peak with people becoming comfort with video conferencing. I believe corporations will be more stringent in allowing personnel to travel abroad unless they are meeting with clients.

Same with cars, if you are allowed to work from home will there be a return of everyone needing to commute by car on a daily basis?

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