THE GLOBAL OIL MARKET AND THE COVID-19 CRISIS: IMPACT AND FORECAST
- May 13, 2020 3:06 pm GMT
This publication aims at providing a clear understanding of the coronavirus crisis over the global economy, the oil sector and the overall energy industry.
A first section is reviewing how the Covid-19 passed from a local health issue in China to a global pandemic, affecting the economy, supply chains, the demand side and the global trading system. Key metrics are provided to understand the depth of the crisis and for how long should countries be affected in terms of GDP and growth.
A second section is fully dedicated to the oil market, assessing the different events which affected the oil industry in the first quarter of 2020.
A third section is discussing the future environment for oil, in terms of consumption, production and price. The future outlook for other sources of energy, such as natural gas, coal and electricity with a focus on renewables is also analyzed.
A last section is reviewing how the crisis affected the African economy and how the turmoils in the oil sector deprived some oil producing countries from a necessary revenue to fight the coronavirus. An analysis concerning the African health sector is also provided through this publication.
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