The 2020 coronavirus crisis has hit the oil and gas industry incredibly hard. Global oil demand is down 30%, a massive blow to a segment that's unable to respond with matching production cuts in anything like a quick-enough manner. As a result, the world is awash in excess oil that's going to keep the energy market out of whack for potentially a year or more. Tens of billions of dollars and hundreds of thousands of jobs will be lost, many permanently.
The follow-on impacts of what could be the deepest global recession in history are affecting the entire energy industry. Electricity demand has fallen due to the halting of so much commercial and industrial activity. Cash flows across the entire sector will be affected, potentially altering the landscape in permanent ways.
We asked four Motley Fool energy experts to share their thoughts on how the 2020 oil crash and coronavirus crisis could change the energy landscape going forward. If you're looking to invest in the energy industry right now, keep reading to get a better picture of the landscape, and implications you may not have realized.
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Source: Motley Fool
(April 26, 2020 - 6:01 AM EDT)
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