What’s Next For Oil And Gas?

Oil demand has been decimated by Covid-19, bottoming in April at 76 million barrels per day, down 25% from 102 million barrels per day in December 2019. As economies reopen and mobility increases, the shape of oil demand recovery remains uncertain. In many ways, the coronavirus pandemic has accentuated the challenges and transformation that the oil and gas industry was undergoing, which has allowed the industry to respond much faster.