Environment and Energy

April 8, 2021
SMU Energy Analysis for April: Oil Demand Strengthens
Written by Brett Linton
The Energy Information Administration’s April Short-Term Energy Outlook remains subject to heightened levels of uncertainty as responses to COVID-19 continue to evolve. Reduced economic activity from the pandemic caused a decline in 2020 energy demand and supply. As of April 6, the EIA expects oil demand to strengthen, as COVID-19 vaccination rates and global economic activity increase. Gasoline consumption is therefore expected to rise as more vehicles return to the roadways. Natural gas prices have declined, EIA reports, as the market disruptions that drove prices high in February have substantually lessened. EIA forecasts a mostly balanced global oil market for the remainder of 2021.
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