Black gold is not what it used to be
By: Jean-Pierre Boris Follow
Oil prices are plummeting. Cars, trains, planes, factories are stopped. Fuel and petrol needs are reduced to almost nothing. At the same time, production is maintained. As a result of the Covid-19 crisis, this situation paralyzes the oil industry.
Publicity
World prices have sometimes gone into negative territory, at least forty dollars. No one seems to want this central fuel for the global economy. Black gold no longer deserves its name. It's just a vulgar molasses that nobody wants anymore.
Why is the oil market reacting so strongly? What is the impact on the economy of consuming and producing countries, is it an anticipation of the general economic situation?
These are the questions addressed by Jean-Pierre Boris.
With:
- Gilles Chautard, former trader, oil market expert
- Antoine Rostand, co-founder and president of Kayrros, big data analytics company in the energy market
- Philippe Chalmin, professor of economics at Paris Dauphine University, director of the raw materials directory, Cyclope.
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