End game for oil? Opec prepares for an age of dwindling demand
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The coronavirus crisis may have triggered the long-anticipated tipping point in oil demand and it is focusing minds in Opec. The pandemic drove down daily crude consumption by as much as a third earlier this year, at a time when the rise of electric vehicles and a shift to renewable energy sources were already prompting downward revisions in forecasts for long-term oil demand.
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