With planes grounded across the globe and lockdowns world-wide keeping the roads empty, the demand for fuel in all categories has plunged, below what many companies see as the break even level for their business.

This is the reason given for the job cuts just announced by BP with around 2,000 reduction of the 10,000 staff cuts impacting on the 15,000 BP headcount in the UK expected more at the higher level of employee.