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COVID-19 Impact On Energy Markets.pdf

Quarterly-Gas-Review-Issue-9.pdf
Preview of COVID-19 Impact on Energy Markets
🔗 Source: oxfordenergy.org
📊 Size: 1.7 MB
👤 Author: IT Officer
⬇️ Downloads: 53

Summary

The COVID-19 pandemic has significantly impacted global energy markets, particularly the oil and gas sectors. The lockdown of many global economies has led to a dramatic decrease in oil consumption, resulting in a huge oversupply of crude oil and negative prices for the US benchmark WTI. In contrast, the gas market has been oversupplied for some time due to new LNG supply, and the pandemic has exacerbated this issue. Gas demand is less focused on one sector, making the impact of the crisis somewhat diversified, and low gas prices have made gas more competitive relative to coal. However, the gas sector still faces challenges, particularly over the summer months when a demand slump could cause a rapid filling of storage in Europe.

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Description

The COVID-19 pandemic has significantly impacted global energy markets, particularly the oil and gas sectors.

Technical Information

  • File Format: PDF
  • File Size: 1.7 MB
  • Pages: 40
  • Language: EN
  • Author: IT Officer
  • Total Downloads: 53
  • Last Updated: 1 week ago

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