Demand for oil has collapsed due to the coronavirus pandemic.
Planes are grounded, factories are shut, and cars are off the roads in many cities under lockdowns.
Oil prices fell below $30 a barrel, and dropped further when major producers Saudi Arabia and Russia couldn’t agree on cutting output.
Now they’ve set aside their dispute.
OPEC and the oil cartel’s allies agreed to a 10 percent production cut, the biggest ever.
But the deal to switch off the taps by 10 million barrels a day still needs approval from Mexico.
Some analysts warn production cuts will hurt smaller nations that depend on oil revenues.
How should these challenges be managed?
Presenter: Bernard Smith
Guests:
Alex Schindelar – President, Energy Intelligence, an oil & gas research company
Antoine Halff – Senior research scholar at the Center on Global Energy Policy, Columbia University
NJ Ayuk – Chairman, African Energy Chamber
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