Global oil demand is set to register its first decline since 2020, according to data cited by AP and repeated in the report. The figures show that in May, global oil consumption decreases by 5.3 million barrels per day compared with the same month a year earlier. The reported average consumption level in May is 97.9 million barrels per day. The coverage frames this as a notable reversal from the prior period of growth, implying that recent demand trends are weakening enough to produce an annual decline. While the summary does not detail specific country or sector drivers, it points to the overall change in consumption as the key indicator. The report therefore emphasizes the scale of the year-on-year contraction and its significance in the broader post-2020 pattern of global oil use. The stated numbers are presented as an aggregate measure of worldwide consumption for May, using year-over-year comparisons to assess direction and magnitude.
Global oil consumption falls in May for first drop since 2020, AP data shows
Global oil demand is set to register its first decline since 2020, according to data cited by AP and repeated in the report. The figures show that in May, global oil consumption decreases by 5.3 milli...
- Global oil consumption in May falls year-on-year, according to AP data.
- May consumption averages 97.9 million barrels per day.
- Consumption declines by 5.3 million barrels per day compared with May a year earlier.
- The decline is described as the first drop since 2020.
- The figures refer to total global oil consumption for May.
According to the AP report, global oil consumption in May fell by 5.3 million bpd from a year earlier to an average of 97.9 million barrels per day.
6 hours agoAccording to the AP report, global oil consumption in May fell by 5.3 million bpd from a year earlier to an average of 97.9 million barrels per day.
6 hours ago
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