Global oil demand is projected to decline by about 1 million barrels per day.

Fuel prices have remained high even though the prices of crude have fallen since the elevated value at the height of the Iran/USA/Israel conflict in the Strait of Hormuz. China has cut oil intake by 1-1.5 million barrels a day. All eyes are on the USA and how demand will be sustained or reduced. Read more in the original news story here.