How the US and Saudi Arabia beat Russia in the oil market

Published by the IA “Interfax-Ukraine” on April 13, 2020.

There has been a steady demand reduction for oil due to the spread of COVID-19 in the world. The main reasons were the current and forecasted decrease in GDP among countries around the world. The restrictions on the movement of people around the world were introduced, business and private travel, including tourism have almost stopped. Restrictions on movement inside the country by transport have also been imposed in many countries. According to some estimates, about 40 percent of the world’s population has been advised to limit their stay outside their homes.