ConocoPhillips sees global oil demand returning: executive

(Reuters) – U.S. oil producer ConocoPhillips sees global oil demand returning to 100 million barrels per day and growing from there, a senior executive said on Thursday.

The company still expects “quite a bit of uncertainty next year” in oil demand due to the coronavirus, Senior Vice President Dominic Macklon said during a Q&A with Raymond James. Capital spending in 2021 will be “somewhat below” its original planned 2020 level of $6.6 billion, Macklon said.

(Reporting by Jennifer Hiller)