Oil markets may stay imbalanced

Oil markets may stay imbalanced – even after the Coronavirus passes. The oil markets have suffered dramatically as lockdowns destroy demand for the black gold. In their latest monthly oil report, OPEC predicts a 9.1 million barrels per day (mbd) demand contraction in 2020, to 90.59 mbd. This is on the back of OPEC and non-OPEC participants agreeing to unprecedented supply cuts, currently totaling 14.48 mbd.

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