Friday, December 20

Energy

The crisis reshaped global geopolitics, underscoring the influence of oil-producing nations and prompting countries to consider geopolitical factors in their energy policies.

Sharp decline in crude oil price was caused by demand shock from COVID-19 virus. Russia and Saudi Arabia decision to increase production create supply shock which made the oil price fell even further. Saudi Aramco still generate $340 Million per day economic profit at $30 per barrel.

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