FORBES | We all know that the global COVID pandemic has caused a collapse in oil prices, famously including a brief period of negative prices here in the US. That makes sense: We’ve seen a large drop in global economic activity and therefore oil demand. Even with the largest coordinated production cuts in history from OPEC & cooperating countries like Russia, 5prices today are still well below pre-pandemic levels.
The pandemic additionally exacerbated the fall in global natural gas prices that began pre-COVID as new abundant supply entered the market at the beginning of the year.
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