Have oil and energy markets just been hit by a perfect storm of coronavirus and an international price war? Demand-side shocks and supply-side crises have hit the oil patch in the past — but what happens when both occur at the same time? Join the conversation with Real Vision, as we discuss these and other questions with the experts you need to hear from to ride out the storm.
Oil Market Implosion: The Perfect Storm
A perfect storm has struck oil and energy markets — as the coronavirus global pandemic collides with a supply-side price war between Saudi Arabia and Russia.
Oil prices have cratered, losing a third of their value in a single day, the second-worst single-day percentage selloff in history, worsted only by the first day of the Gulf War in 1991. The contagion spread to broader energy markets: Generic refined gasoline spot prices were slashed in half from their 12-month highs, and heating oil has sold off nearly 50% over a similar time frame.
Now, as we move on to the next phase, markets begin to weigh second-order impacts. Will there be bankruptcies in the oil patch? What’s the US jobs impact if shale production is no longer economically viable? Could this be the beginning of a broader macroeconomic downward spiral?
We want to invite you to join us at Real Vision for only $1 for 30 days as we explore these and other questions with some of the world’s leading experts, analysts, and money managers.
FOR MEMBERS ONLY
Stay on top of the ever changing Oil & Energy Sector with the latest updates and analysis from the greatest financial minds of our time. Not a member? Not a problem! Get access to this must-see content for 30 days for only $1!