Influential IEA cuts forecasts for rebound in market as new lockdowns bite

World oil demand will be lower than forecast this year as a surge in new coronavirus cases looks likely to keep restrictions on the global economy in place, the International Energy Agency has said.

The agency warned that a string of new lockdowns across big economies will keep a lid on oil demand over the first months of the year, before the impact of Covid-19 vaccines begins to take effect in the second half.

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