Energy

Oil demand will reach pre-pandemic levels in mid-2022, analyst says

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In 2016 New Jersey raised its gasoline tax by 23 cents per gallon.

Julio Cortez | AP

Travel is picking up in the United States and Europe, but the rebound in global oil demand hinges on Covid-19 response in Asian markets, according to Energy Aspects analyst Amrita Sen.

New Covid restrictions are going in place in Southeast Asia, and it could delay a full return in demand for crude until the middle of 2022, she said in an appearance on CNBC’s “Closing Bell.”

“Chinese demand is booming, but as we know India is struggling. A lot of other Asian countries are going back into lockdowns of some form,” Sen said Tuesday.

While India continues to grapple with a crippling second wave of Covid-19, new…



Source cnbc.com

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