The worst of the oil market downturn from the coronavirus pandemic has passed, according to the International Energy Agency. That outlook comes despite a resurgence in coronavirus cases and a massive crude oil inventory build-up. The IEA said reimpositions of lockdowns in North and Latin America have been "casting a shadow" over its outlook for the second half of 2020, when it expects global oil demand to be down by only 5.1 million barrels a day. The oil market has made some headway since...
Continue Reading Oil's worst turbulence since 'Black April' has passed, the IEA says, even as coronavirus cases surge and inventories grow