Reduced oil, oil product demand to last for six months – Absa

The current reduced demand for oil and refined products as a result of national lockdowns in South Africa and across sub-Sahara Africa could persist for at least six months, Absa Corporate and Investment Banking (CIB) natural resources head Shirley Webber says. She explains that national shutdowns have affected and reduced demand for both fuel and refined products, primarily because of less traffic on the roads and no international passenger flights being allowed.

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