Oil Price: even Canada sees its need for decades to come!
During the first phase of the Coronavirus pandemic, beginning from the spring, in Europe and America, the demand - and the production of oil - went down and it was perfectly understandable. During the second phase, although things relatively improved with a slight decline in deaths, the situation still is nowhere near normal. Since the hope of a vaccine – and evolving data that boosts it – seesaws on a PR hinge, there is a strong possibility of the world going into a third phase too, whatever out politicians say. That means the recovery of oil prices and the production may be slow, but will not be on a downward spiral, as it happened during the first phase of the pandemic. The combination of ‘unknowns’ evolved into a gloom of epic proportions and sent price crashing down even below zero; it was short-lived, though. As this is the case, it’s unfortunate to read into the data that stems from a period of uncertainty and make inferences from it. This seems to be what some over-
