Tag: Shutdowns

Opinion Piece: Fearing The Second Wave

covid-19

A second wave of the coronavirus pandemic is tearing its way through Europe and there is no question whether or not the rest of the world will eventually follow. The surge in coronavirus cases in many major developed oil-consuming economies has rekindled fears that oil demand recovery is again off track, and market balancing is still further away. Luckily, those fears are misplaced as a second wave of shutdowns may not take as large of a dent out of global demand as individuals have begun to resume their day to day lives. Therefore, global oil demand recovery will not be derailed as fear of the virus is likely not going to keep people locked up anymore.