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OIL PRICE CRASH IN 2020

Petre Prisecaru and Paul Calanter

Euroinfo, 2020, vol. 4, issue 2, 125-139

Abstract: The year 2019 began with a sensible increase in crude oil prices in January and February, followed by notable fluctuations amid upward and downward trends. The year 2020 began on the specter of major geopolitical risks, after which, since February, prices have entered a period of high volatility, against the background of a strong downward trend, due to over supply and the decline in demand aggravated by the halting of activities following the coronavirus pandemic. At the end of April, the decline in demand was estimated at 30 million barrels per day, following the OPEC+ agreement, and that of supply only at 10 million barrels per day, but in May, with the slight recovery of demand, an increase in prices on the main exchanges began.

Keywords: energy; oil; policies; strategies (search for similar items in EconPapers)
JEL-codes: Q41 Q43 Q48 (search for similar items in EconPapers)
Date: 2020
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