As of May 1, OPEC+ members officially began implementing supply limits, with several countries outside the group providing support on their own terms. While this cooperation will provide much needed support to the market, demand-side factors continue to dominate the effects of the pandemic, with the trajectory of the recovery dwarfing the impact of the supply cuts on oil prices. Demand losses now appear to have peaked, and, while inventories are likely to build for some time to come, the fundamentals are swaying back toward a rebalancing.
Former Content and Data Visualizer Andrew Stanley was a strategic communications specialist at KAPSARC. Most recently, he served as the Lead Content and Data Visualizer… Andrew Stanley was a strategic communications specialist at KAPSARC. Most recently, he served as the Lead Content and Data Visualizer in the Research Department, where he managed efforts to improve the accessibility of KAPSARC’s research and analysis. He also briefly served as the Interim Media and Profile Lead in the Communications Department, during which time he reformed KAPSARC’s digital media platforms. Previously, he was an Associate Fellow at the Center for Strategic and International Studies (CSIS) in Washington, DC, with the Energy Security and Climate Change Program. His work there was widely published online, in academic journals, and referenced in outlets such as the New York Times, Financial Times, and Bloomberg among others. He has also worked at KPMG and Shell. Andrew holds a master’s degree in International Business and Politics from the Copenhagen Business School, Denmark and a Bachelor in Business Studies from Trinity College Dublin, Ireland.