WTI regains $102.00 after IEA's Birol says emergency in oil markets may get worse
|International Energy Agency (IEA) chief Fatih Birol warned Friday, “emergency in oil markets may get worse.
Additional takeaways
Reducing oil demand does not depend only on governments but also citizens and corporations.
Measures include lower speed limits, working from home, more public transport and urban car-free days.
Measures can quickly cut oil demand by 2.7mln bpd within four months.
Market reaction
WTI bounced-off daily lows of $101.67 to recapture the $102.00 on these above comments.
The US oil was last seen trading at $102.21, modestly flat on the day.
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