Mar 30, 2020
The consequences of this will likely last years. In the midst of a price war, global oil demand is in a free fall. The spread of the coronavirus has left 3 billion people worldwide unable to get on a plane, drive to work or go anywhere, really, at all.
In response, global oil demand is plummeting. The International
Energy Agency says as much as 20 million b/d of oil demand may be
lost this year.
On today’s Capitol Crude podcast, Sarah Ladislaw, senior vice
president and director and senior fellow of the Center for
Strategic & International Studies’ energy security and climate
change program, answers a few questions about where the US oil
sector is headed.
What is the Trump administration doing to bail out the struggling
shale industry? They say they’re pressing the Saudis to work to
stabilize the market, but how serious is that effort? And with
Texas regulators contemplating oil alliances with Saudi Arabia, has
the US oil industry entered a new, unpredictable chapter?