Saturday, January 23, 2021

Tag: ‘Moving into End-Game’: Production Shut-Downs Cited as Next Chapter of COVID-19-Driven Oil Crisis

‘Moving into End-Game’: Production Shut-Downs Cited as Next Chapter of COVID-19-Driven Oil Crisis

from Sputnik News:

The ongoing coronavirus pandemic, which has halted economic activities and travel, has crippled demand for crude, resulting in an oil glut and sending prices plunging, heralding more shocks to the industry.

Amid the destructive economic fallout from the COVID-19 pandemic, production shut-downs in the petroleum industry are imminent, writes Bloomberg.