Crude oil industry is starting to hear echoes of coal’s demise [Toronto Globe and Mail (Ontario, Canada)]
BP p.l.c. (BP)
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Source: Toronto Globe and Mail
Crude oil industry is starting to hear echoes of coal’s demise If 2020 had been anything close to a normal year, the oil and gas industry would have just wrapped up its annual gathering in Singapore, most likely reassured of its ongoing essential role in humanity’s future. But this is far from a normal year, and the Asia Pacific Petroleum Conference (APPEC) was a virtual event for the first time in its 36-year history. While the numerous cocktail parties and the bonhomie of catching up with old colleagues was undoubtedly missed, the event did manage to provide a platform for the industry to take stock of how it’s going during the novel coronavirus pandemic. If the wide variety of views can be summed up, the industry knows it’s in the worst situation in generations as far as demand goes, and that there is considerable uncertainty over how the situation will unfold in coming months. The problem for the crude industry is that it can’t really predict the demand side of the equation with a
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