Monday, June 8, 2020 - Jeff Currie discusses the energy markets, recent trends in the oil industry, what can be learned from the reopening of China’s economy, and developments that have arisen from the COVID-19 epidemic.
Dr. Jeff Currie is global head of Commodities Research at Goldman Sachs, where he has held various positions since 1996. His research helps the firm and its clients with corporate risk management programs, short and long- term commodity investment strategies and asset allocation. Today, he will discuss the energy markets, recent trends in the oil industry, what can be learned from the reopening of China’s economy, and developments that have arisen from the COVID-19 epidemic.
Dr. Currie explains how the recent pandemic has caused a drop in oil prices ten times larger than the drop experienced during the 2008 recession, and for understandable reasons. Oil enables globalization and facilitates social contact, two things this pandemic has inhibited the most. Dr. Currie believes the industrial need for oil will return as economies reopen, as will the need for oil to enable commuting, but jet oil needs will likely diminish as businesses realize the convenience afforded by video conferencing.
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