The COVID-19 pandemic’s impact on the national and international economy has been particularly sharp on energy markets. The economic slowdown has meant less demand for all forms of energy, exacerbating an already over-supplied oil and gas market, driving prices to near record lows. While the impacts have been most profound upon oil markets, natural gas – much of which is produced as a byproduct of crude oil extraction – will also be impacted.
A new report from the International Energy Agency observed that “there is clearly a long way to go before we can put the Covid-19 crisis behind us.” For the report, click here.
Pandemic Continues to Impact Fossil Fuel and Other Energy Markets