Q2 oil demand is contracting 1.5 million barrels per day. The steepest contraction since covid.

everyone is watching the supply side of the oil crisis. hormuz closed, tankers stuck, brent near 110. but the demand side is where the real story is developing. IEA says Q2 demand is contracting 1.5 million barrels per day. european airlines cancelling routes. shipping companies rerouting around afr