BNO - Awash In Oil But Demand May Have Reached Bottom

The oil market has been a riveting story to watch of late. A health pandemic drives the world to a virtual standstill, with energy demand plummeting in response. Then, a rout between two of the three largest oil producers, Saudi Arabia and Russia, create the onset of a price fall unlike any seen in modern history. According to Wood Mackenzie, the oil and gas consultancy, oil demand may be reaching its bottom. And yes, there is still the inventory overhang to work through. They write:

The big hit has been on jet fuel demand (down

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