Covid-19 has hit the oil market hard

An oil well operating in the desert in front of the setting sun © Zbynek Burival on Unsplash

Covid-19 has killed demand for oil all around the world, with transport, industry and other demands for energy vastly cut during the pandemic.

Oil producers are struggling to shut down their supplies or find environmentally acceptable alternatives to dumping their products, with some prices going negative for the first time in history.

Lancaster University Management School’s Professor Mark Shackleton, writes for The Conversation about why the futures market for Black Gold will struggle to recover.

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