GCC Hydrocarbon Economies and COVID - Original PDF
نویسندگان: Nikolay Kozhanov · Karen Young · Jalal Qanas
خلاصه: 13 2.1 introduction The outbreak of the Covid-19 epidemic and the resulting economic downturn have undermined the already weakened position of the global oil and gas industry. Since the transportation sector depends on 60 per- cent of energy from oil consumption, movement constraints were quickly interpreted into reduced oil demand. Consequently, various crude oil indices reached their lowest level by mid-2020, when the daily global oil consumption declined to less than 75 million barrels, compared to some 100 million barrels earlier that year, before recovering afterward. The demand for natural gas has also fallen sharply due to widespread quarantine in various parts of the world, especially China, India, and