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Global oil market rebalancing amid COVID-19 risk.
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- Author(s): Conglin Xu; Bell, Laura
- Source:
Oil & Gas Journal; 7/6/2020, Vol. 118 Issue 7, p14-25, 12p
- Subject Terms:
- Additional Information
- Abstract:
The article focuses on the impact of COVID-19 pandemic on global demand and supply of petroleum. It mentions that the global oil market balance is expected to turn from surplus to deficit in the third and fourth quarter of 2020; and mentions that the income elasticity of oil demand is high, that indicates that declines in economic growth, business, employment, and income lead to falls in oil demand.
