The outbreak and continuation of the new crown pneumonia epidemic will undoubtedly have a severe impact on the global oil industry this year. The sudden drop and rebound in oil demand has caused drastic fluctuations in global oil product inventories and oil prices. The unprecedented scale of production reduction agreements has helped oil prices temporarily stabilize.

At first, people in the industry expected that global oil demand would return to pre-epidemic levels within a year or two. It now appears that this view is too optimistic. The pandemic will also have an impact on policymakers' views on energy security, awareness of the urgency of climate change, energy policies, technology, and investment. Moreover, this impact is long-term, but it is still in the process of development.


2020年10月20日

OPEC downgrades this year's global oil demand forecast
Global crude oil production costs continue to fall

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The impact of the epidemic on the oil industry may last longer

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