Why the Outlook for the Oil and Gas Market is Brighter than You Think

In this article:

1. What’s changing in oil and gas (in asset sales and beyond), and why the long-term outlook for the industry is positive.
2. How supply chain has changed over the years.
3. How Requis is perfectly positioned to be the supply chain platform of choice for many industries.

On April 20, 2020, the value of futures contracts for crude oil hit an unprecedented new low. Earlier, in March, oil prices had already reached their lowest point since 1998. The genesis for this scenario lay in a confluence of events, including the coronavirus lockdown, which had drastically reduced demand, and the conflict over production levels between Saudi Arabia and Russia, which led to both countries flooding the market with low-cost oil.

Since then, the oil market has recovered significantly, but operators have been dealing with the consequences ever since.