The profitability of the oil industry
The crisis over COVID-19 has hit the world economy as a whole. This note reviews the effects on the oil industry, the fall in the volume of world supply and demand, and the prices of crude oil quoted on international markets.
After the collapse of the oil price, a recovery in the energy sector will depend on the improvement in the price and the speed with which it is achieved. Prices are expected to remain low, and the sector is expected to suffer despite the market recovery.
In view of this negative environment in the industry, the possibility of greater investment in alternative energies and consequently a deepening of the change in the energy matrix must be envisaged.