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Yes the oil industry is going to take years to recover from 2020.

• Zenst 6y ago
  Maybe not as it's a supply and demand market, supply outstrips demand so more costly extraction shuts down (shale being one of them), you then see price rise as less supply and always some demand as they always balance out and then, you see other sources viable to extract - rinse repeat. SO to recover to the same level of usage - I kinda hope it doesn't and we see a gradual reduction once things back to the new normal. But shall see. Problem is as it gets cheaper due to surplus - other uses become viable like generating electric as cheaper per KW than buying from the grid or other sources. Things like that, so the nuances of all this are all down to how we define normal after this lockdown. Either way, the industry will carry on, just price accordingly.
• Havoc 6y ago
  And when it does there won't be much demand for it anyway imo