Advertisement
UK markets open in 1 minute

  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     

  • HANG SENG

    16,231.16
    -154.71 (-0.94%)
     

  • CRUDE OIL

    83.90
    +1.17 (+1.41%)
     

  • GOLD FUTURES

    2,397.90
    -0.10 (-0.00%)
     

  • DOW

    37,775.38
    +22.07 (+0.06%)
     

  • Bitcoin GBP

    51,962.58
    +2,824.28 (+5.75%)
     

  • CMC Crypto 200

    1,304.09
    -8.54 (-0.65%)
     

  • NASDAQ Composite

    15,601.50
    -81.87 (-0.52%)
     

  • UK FTSE All Share

    4,290.02
    +17.00 (+0.40%)
     
Money:

Best mortgage deals of the week

As possibility of multiple interest rate cuts dwindle here's what banks and building societies are offering

IEA raises 2020 oil demand forecast but warns COVID-19 clouds outlook

Reuters
·1-min read
File photo of a worker walking past a pump jack on an oil field owned by Bashneft, Bashkortostan

LONDON (Reuters) - The International Energy Agency (IEA) bumped up its 2020 oil demand forecast on Friday but warned that the spread of COVID-19 posed a risk to the outlook.

The Paris-based IEA raised its forecast to 92.1 million barrels per day (bpd), up 400,000 bpd from its outlook last month, citing a smaller-than-expected second-quarter decline.

"While the oil market has undoubtedly made progress ... the large, and in some countries, accelerating number of COVID-19 cases is a disturbing reminder that the pandemic is not under control and the risk to our market outlook is almost certainly to the downside," the IEA said in its monthly report.

(Reporting by Noah Browning; editing by Jason Neely)