Oil demand expects sharp drop, S&P warns Global Platts. In addition, he will not be able to reach levels preceding the coronavirus pandemic. This opinion was announced at the agency's virtual conference. According to the president of the agency, Martin Frenkel, by the end of the current year, the demand for oil will decline by an average of 8 million bpd. IN compared with the figures of previous years, these volumes are very large, noted is he. The global decline in demand was due to quarantine measures, adopted around the world due to the coronavirus pandemic. Volumes stocks in oil storage tanks continue to increase. In his the September IEA report indicated that the pace of recovery demand for raw materials after quarantine is now decreasing due to the risk the emergence of a new wave of pandemic. This week the market players' attention is focused on the meeting monitoring committee OPEC +, scheduled for Thursday.