Nitesh Bansal, Global Head of Commodities Research, Futures First Academy
Wed, May 13, 2020 6:30 AM – 7:30 AM EDT
The end of the year 2019 was not so bad for the global crude oil markets. The phase one trade deal between China and the US, expectations of a gradual global economic recovery, regular monetary stimulus from various economies throughout the year and the OPEC+ deal were all reasons to cheer. However, the coronavirus and the resulting renewed fears of demand destruction have put increased pressure on the crude oil markets. We examine the current state of the global crude oil market and what could be in store for 2020.
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