- There are two items dominating the headlines in the energy sector at the moment: the global Covid-19 pandemic and the alarming decision of Saudi Arabia and Russia to go head-to-head in a price war.
- Scenario 2: Fast Covid-19 containment but slow resolution to the price war or Prolonged Covid-19 pandemic but fast resolution to the price warWorld governments are panicking, particularly in Europe, where a second wave of cases emanated from Italy to the rest of the continent, sparing no one.
- If Saudi Arabia and Russia hold true to their threats to massively increase crude output, there will be a tsunami of crude oil travelling around the world at a time when the world needs less.
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