Sunday, September 14, 2025

Latest

Demand for US Oil Could Collapse Once Again as Threat of Second Coronavirus Wave Becomes Imminent

The demand for US oil hit a disastrous low during the onset of the coronavirus pandemic, as government-mandated economic lockdowns and travel restrictions forced Americans to succumb to the safety of their homes. By May, the US economy was in such a state of disarray that governments decided to start easing restrictions and get people back to work so as to subside further economic collapse.

The easing of restrictions sparked an uptake in the demand for oil, as Americans started venturing out of their homes once again traveling by vehicle as opposed to air travel. In addition, businesses such as retailers, restaurants, and bars reopened to full capacity, predominantly in Texas, California, and Florida. However, things soon took a turn for the worse, as infection rates began to increase at an alarming rate setting a record of daily new cases.

In response to what appears to be a second resurgence of the deadly virus, several hard-hit states have rolled back their reopening plans, and are once again imposing restrictions on non-essential businesses. Now, demand for oil is falling once more, as American’s attitudes in response to a second wave of the coronavirus are shifting once again. Despite the attractiveness of a National Lampoon’s road-trip-style vacation, the threat of an even deadlier coronavirus wave could offset any travel plans indefinitely.

Information for this briefing was found via Bloomberg and CNBC. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

US Individual Wealth Expected To Drop By 5% In 2020 While Indian And Chinese Households Get Richer

Not only has the coronavirus pandemic significantly crippled many economies around the world, but impacts...

Sunday, October 25, 2020, 11:37:00 AM

Fitch Ratings Anticipating Historic Loan Defaults for April

Since the onset of economic shutdowns across the US, millions of workers have found themselves...

Saturday, April 25, 2020, 12:00:00 PM

Deutsche Bank Proposes 5% ‘Privilege’ Tax on Those Choosing to Work From Home

The coronavirus pandemic has caused significant shifts in the typical office environment, as many employees...

Saturday, November 14, 2020, 04:03:00 PM

Revive Therapeutics Signs MOU With Attwill Medical, Manufacturer For Vaxart, For Phase 3 Clinical Trials

Revive Therapeutics (CSE: RVV) (OTC: RVVTF) is one step closer to conducting its phase 3...

Friday, August 14, 2020, 08:50:35 AM

Canadian Federal Government Extends CERB Payments For 8 More Weeks

As mentioned earlier, the Canadian federal government has been pushing a plan to extend CERB...

Wednesday, June 17, 2020, 03:49:00 PM