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.May 21, 2020
Andrew Stanley is an energy content and data visualization specialist at KAPSARC. Working as a bridge between the Communications and Research departments, Andrew leads efforts to improve the accessibility and reach of KAPSARC’s research content. Previously he was an Associate Fellow at the Center for Strategic and International Studies (CSIS) in Washington, DC, where he covered oil markets for the Energy and National Security Program. His work has been widely published online, in academic journals, and referenced in outlets such as the Financial Times, Bloomberg, and Platts. He has also previously worked at KPMG and Shell.