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The covid-oil crash double whammy

Usa state Texas covid-19 2020 economy shock
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As businesses across the board come to terms with the adverse impact of covid-19, the oil sector has become witness to massive volatility and downturns.

West Texas Intermediate (WTI), the marker for US crude turned negative on 20 April 2020 due to demand collapse and the lack of adequate storage capacity.

Global supermajors have witnessed erosion of their market capitalisation by 40-50% over a six-month timeframe. Liquidity in the market has become extremely tight for most players across the value chain.

In the oilfield services sector, there have been a number of layoff or furlough announcements. The global oil industry has witnessed shocks, but never on this scale.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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Covid-19.rehab - the latest news concerning the spread of the SARS-CoV-2 coronavirus (formerly 2019-nCoV), as well as the infectious disease that it causes COVID-19, in separate countries and in the world as a whole. Current news on the topic of coronavirus SARS-CoV-2. Quarantine, pandemic 2020, epidemic: what is it, when will it come to end, precautions and how to protect yourself from this disease. The most honest news, no fakes! To keep up with the latest news, stay tuned for updates on the site! Every day we will collect news and statistics on coronavirus from around the world for you to be aware of this topic.

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