The Oil Market and the Pandemic: An Analysis of the Price Collapse, Effects and Responses in LAC
Peer Reviewed
Date issued
June 2020
Subject
Petroleum;
Oil Price;
Oil Production;
Organization of the Petroleum Exporting Countries;
Coronavirus;
Pandemics;
Energy Market;
Petroleum Industry
JEL code
Q4 - Energy;
Q43 - Energy and the Macroeconomy;
Q41 - Demand and Supply • Prices
Category
Technical Notes
This technical note reviews and analyses the collapse in oil prices over the first quarter of 2020 and its direct relationship to the spread of the COVID-19 pandemic. It discusses the technical, practical, and financial measures that companies in the oil and gas sector throughout Latin America are implementing to address the situation. These actions are being undertaken largely to keep revenues stable in order to secure access to funds that governments will require to address the pandemic-induced economic crisis and finance the subsequent recovery.
NO