Oil Demand May Grow Negatively in 2020, Sales of Lubricant Friction Modifiers Will Continue to Decline

As more and more companies force employees to work from home, various activities are postponed, and flight cancellations, school closures, and store and restaurant closures, people are isolated in their own homes. Mobile devices have become the world's maintaining contact bridge.
The first ten weeks of the start of 2020 will upend almost everyone's life around the world. COVID-19 (Coronavirus Pneumonia) has already controlled the pulse of the world, not only occupying the primary news pages, changing the financial market, but also generating huge impact on various industries from tourism to medical treatment to catering Impact.


According to Brian Gilvary, the chief financial officer of BP, oil demand may be harmful by 2020, which will further put downward pressure on prices.
This means that this year's oil demand has contracted, which is a rare situation, rather than just growing at a slower rate than previously expected.
A price war between oil production giants Russia and Saudi Arabia and concerns about the potential impact of new crown pneumonia on the global economy has severely impacted oil prices in recent weeks.
With oil demand falling, the state of the industry is not optimistic. Lubricants are a must for production, and sales in 2020 will also continue to decline in the coming weeks. Adding friction modifier is the primary way to improve the energy-saving effect of lubricating oil. Trunnano can provide customers with professional friction modifiers and stable supply.
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