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It’s no secret that fewer vehicles are on the roads lately, along with very few planes in the sky—and surely you’ve noticed the price of diesel at the pump. According to a report from Rystad Energy published on April 15th, the result of worldwide lockdowns and travel restrictions due to Covid-19 will drop oil demand from 100 to 72.5 million barrels of oil per day—a 27-percent downturn. Last week, global road traffi c dipped to its lowest point in years, while air travel was down more than 90-percent in seven key countries. Passenger fl ights were down 58-percent in the U.S. Ironically enough, the recent (and pending) decrease in energy consumption may reduce CO2 emissions by 3-percent for the year, nearly inline with the reductions specifi ed in the Paris Agreement.

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