Receive our newsletter – data, insights and analysis delivered to you
  1. Uncategorised
April 28, 2020

Oil industry in crisis due to effects of Covid-19

By Agne Suipyte

On 28 April, global benchmark Brent Crude was priced at $19 a barrel, down from $70 at the start of the year.

This price is the lowest in almost two decades and comes as a result of a significant decrease in demand due to the pandemic.

UK-based multinational company BP announced first-quarter net income of $800m. This is only a fraction of the 2019 first-quarter figure, which stood at $2.4bn.

Click here to read the full article.

Related Companies

Content from our partners
Green investment: What gives Scotland multiple advantages
How the North of Tyne region is leveraging its legacy to define its future

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU