BritCham Market Insight: Oil Oversupply – what’s next for the industry?

Last week, we interviewed Xizhou Zhou, Vice President for Energy at IHS Markit,  a leading information and research company, with global headquarters in London. Our first Market Insights short video looks at the topical issue of Oil oversupply. We explored the implications of recent oversupply and negative prices on the oil industry and beyond, with a focus on China.

Our discussion topics include:

• How is COVID-19 impacting China’s oil demand?
• Chinese oil companies have been stockpiling oil and enhancing their storage capacity since the price war broke out.  Does this mean we could see prolonged low prices for the foreseeable future as supply will remain high?
• With energy prices fluctuating significantly, how has clean energy performed during this period, and will we see continued growth in renewables in China?