Impact of Covid-19 on Oil Demand Recovery
Discussion Topics:
- Gasoline demand fell by over 40% this year but had begun to recover before stalling in early July. Now it's remaining at about 90% of prior years' levels, as waves of closures have enveloped large parts of the country and the world. Yet elsewhere we've seen rapid recovery as areas opened up with people favoring private over public transportation.
- Diesel demand has fallen a lot less compared to Gasoline and has mostly recovered its early loses, is close to the average of the last 5 years. Meanwhile, slumping jet fuel has been the horror story, as demand fell by 75% and continue to lag more than 50% below prior years' levels.
Speakers
Zef Lokhandwalla
Energy Markets Specialist
Bloomberg
Zef Lokhandwalla is an Energy Markets Specialist at Bloomberg, New York. Zef worked for 20+ years as a Portfolio Manager and Analyst of Energy securities, trading relative value across asset classes - Equities, Commodities, Debt and Credit. Prior to joining Bloomberg earlier this year, Zef worked at BlueCrest Capital Management, Hess Energy Trading Co (now Hartree Partners), Exxon and NASA Johnson Space Center. Zef has extensive experience conducting oil & gas research, building econometric supply & demand models to forecast crude oil, products & natural gas balances, generating trade ideas and executing cross-asset class trading and hedging strategies. Zef has long standing relationships with oil & gas producers, traders, investors, money managers and has participated in numerous energy conferences as moderator, guest speaker and panelist.