The crude oil and natural gas markets may recover in 2020, but the speed of recovery in terms of pricing will be different. The crude oil market is rebalancing following a recent mild price recovery, but an increase in COVID-19 cases remains cause for concern. Natural gas may not recover until winter 2020/2021 as low prices, weak demand, and ample storage weigh on the industry.
“Each of (the markets) has very different dynamics going on, but they are definitely being impacted by pandemic and demand destruction trends,” said Enverus VP of Strategic Analytics Bernadette Johnson.
Speaking during the virtual 2020 Unconventional Resources Technology Conference (URTeC), Johnson outlined key drivers for the markets.
https://pubs.spe.org/en/ogf/ogf-article-detail/?art=7418
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