And when travel recovers, it won’t be the way it was before. That will come again as well but not this year. people are not only scared, they are economically scared. Many have lost everything and what little remains for them, they put on the side for harder times. Uncertainty does this and one thing must be clear: this crisis has robbed all of us of most certainties that we held before. And it also showed us that even fundamentals we did not even think of anymore have value. We should be prepared for major failures which makes quick decisions harder. To top it off, we got used to Zoom now.
Global oil use dropped by 9 million barrels a day last year but should recoup more than 6 million in 2021, said Mike Muller, head of trader Vitol SA’s operations in Asia.