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The Business Insider: The Money Game Goldman Sachs says global oil demand won't rebound to pre-coronavirus crisis levels until at least 2022
  • Goldman Sachs predicts global oil demand will not return to pre-coronavirus levels until 2022 after a fall of 8% in 2020 and a rebound of 6% in 2021.
  • Analysts said peak demand is unlikely this decade on the assumption that electric-vehicles will replace traditional modes in Europe, and a change in consumer behaviour reflected by a level shift down in business travel and commuting.
  • Gasoline demand is expected to be the fastest to recover among oil products due to a transition in consumer behaviour from public commutes to private transport and increased use of cars compared to flights for domestic travel.
  • The projection comes after global oil prices dramatically recovered in May and June after taking a beating in recent months.
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