Oil Market Turbulence: Geopolitics and Pandemic Impact

This chapter examines the dramatic fluctuations in the global oil market driven by geopolitical tensions and the COVID-19 pandemic. It highlights the stark contrast between rising oil prices due to attacks on facilities and the unprecedented decline in demand leading to historically low prices. The analysis also explores the varied perspectives within the U.S. oil industry and the broader implications for vulnerable oil-dependent countries amidst these market shifts.