# Oil Market Report - April 2020 - IEA

> The IEA's April 2020 Oil Market Report forecast a record 9.3 mb/d fall in global oil demand for 2020. It also projected a record 12 mb/d supply drop in May after OPEC+ agreed historic output cuts.

- Date: 2020-04-15 · published 2020-04-15T12:00:00.000Z
- Category: report · region Global · magnitude high
- Page: https://feedsoft.ai/events/4479-oil-market-report-april-2020-iea
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A record demand contraction outweighs the planned supply cuts, implying a large inventory build and continued downward pressure on crude prices. Weaker energy prices lower costs for biofuels and related feed inputs.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-06-17 | [Oil Market Report - June 2025 - IEA](https://feedsoft.ai/events/9612-oil-market-report-june-2025-iea.md) | -9.9% | -6.8% |
| WTI | 2019-08-08 | [Oil Market Report - August 2019 - IEA](https://feedsoft.ai/events/10825-oil-market-report-august-2019-iea.md) | +7.9% | +10.0% |
| WTI | 2025-10-14 | [Oil Market Report - October 2025 - IEA](https://feedsoft.ai/events/22591-oil-market-report-october-2025-iea.md) | -2.7% | +1.7% |
| WTI | 2018-07-11 | [Oil Market Report - July 2018 - IEA](https://feedsoft.ai/events/7770-oil-market-report-july-2018-iea.md) | -8.2% | -6.7% |
| WTI | 2026-01-21 | [Oil Market Report - January 2026 - IEA](https://feedsoft.ai/events/21236-oil-market-report-january-2026-iea.md) | +3.1% | +8.2% |
| BRENT | 2025-06-17 | [Oil Market Report - June 2025 - IEA](https://feedsoft.ai/events/9612-oil-market-report-june-2025-iea.md) | -1.7% | -5.5% |
| BRENT | 2025-10-14 | [Oil Market Report - October 2025 - IEA](https://feedsoft.ai/events/22591-oil-market-report-october-2025-iea.md) | -4.5% | -0.3% |
| BRENT | 2019-08-08 | [Oil Market Report - August 2019 - IEA](https://feedsoft.ai/events/10825-oil-market-report-august-2019-iea.md) | +5.5% | +9.1% |

## Sources

- iea.org: https://www.iea.org/reports/oil-market-report-april-2020

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.