Saudi Arabian state-owned oil company Aramco is hopeful that oil demand will return to pre-corona levels by 2022. At the Energy Intelligence Forum, Aramco CEO Amin Nasser stated that the recovery will depend on how Covid-19 develops and the availability of vaccine. The International Energy Agency expects the oil demand to recover by 2023.
China, the biggest crude oil importer in the world, imported 48.48 million tons (mt) of oil in September, a 2.1% increase from August, according to the General Administration of Customs. The reason for the increase in imports is attributed to cargoes clearing customs after being stranded at ports for a few months while onshore storage volume has expanded. The country imported 416mt of crude oil in September in the first nine months of 2020, equivalent to 11.08 million barrels per day (bpd), reported Reuters.
Energy firm Shell removed fourteen workers from its North Sea platform in the UK after a worker tested positive for coronavirus. The Covid-19 positive worker was removed on Friday itself and the situation at the facility is being closely monitored. The FPSO platform will also be in isolation for the next two weeks. The trade union chief cautioned the industry workers to stay alert and reduce the risk of coronavirus spread in the seas.