Rethinking gas

Topics oil market | Gas price | Coronavirus

The ongoing Covid-19 pandemic has shaken up global energy markets. Amid widespread demand destruction, the price of Brent crude oil has fallen to around $30 a barrel, and was even lower for much of the time since March. While it is possible that the prices will recover, the pandemic is only enhancing trends in the market that had previously been observed. Major producers agreed on production cuts after considerable effort and expending political capital. Even then, they have not made a great difference to the price. The structural effects of the changed oil supply dynamics have to be taken int.....

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