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  1. The OPEC report

    The COVID-19 pandemic and related restrictions slashed global oil demand. In March 2020, oil prices saw the largest drop since the 2008 financial crisis. The OPEC shared its findings on the hydrocarbon market in its April report. In this situation, the term structure of all three crude benchmarks moved to a super contango (where the spot price is trading dramatically below the futures price) due to the ...

  2. Oil demand is declining

    But according to OPEC, oil will remain the largest energy source until 2040. The Organisation of Petroleum Exporting Countries (OPEC) has published its annual World Oil Outlook providing a detailed medium-term (until 2024) and long-term (until 2040) oil market analysis....