Recent
collapse in oil prices was caused by supply and demand issues, as well as
uncertainty about the future. These two factors, their mutual influence, led to
the collapse of the financial markets.
How will the oil
collapse affect the economies of fuel exporting and importing countries? -
Analytical data from international experts - during the online conference “COVID-19: a
challenge for economic growth” on October 7.
Paolo Sorbello, Ph.D. candidate at the
University of Glasgow, researcher at Ca' Foscari University of Venice,
Member of the Executive Committee of the Caucasus and Central Asia Observatory
(CCAO) is one of the invited speakers of the upcoming conference.
The topic of his speech
is: “Between low oil prices and the pandemic: Kazakhstan's path to economic
recovery.”
Global demand for oil, natural gas, and coal is
declining as COVID-19 spreads. The relationship between the two global
phenomena is obvious. Consumption of minerals, mainly used in the transport
sector, has been reduced amid business closures, reduced domestic and
international travel, and other quarantine measures.
These are just some aspects of the impact of the
pandemic on the oil and gas sector…
Demand is expected to fall by a record 9.3 million
barrels per day (MBD) in 2020 on a year-on-year basis.
However, the exact impact of the COVID-19 pandemic on
oil demand will depend on how quickly the effects of the virus are contained
through government efforts for economic stimulus…
Learn more about this at an online conference on
Wednesday.
Live broadcast on the YouTube channel of Economic
Research Institute.
