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When will OIL bounce back?


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Oil as we all know is trading at unprecedented prices. With lockdowns, bans on non-essential travel, the grounding of 99% of the aviation industry, the demand for oil has never been lower.

 

So, I ask, just when will oil bounce back and will it be a gradual bounce or a quick sharp rise in price?

 

Obviously petrol pumps are the first to benefit from any loosening of the current lockdown (UK). As people return to work and are allowed to travel on non-essential journeys the fuel reserves in the UK will need replenishing.

 

I think OPEC have told its members to stop producing but the reserves these companies hold will also need replenishing almost immediately after the lockdown is lifted.

 

Any thoughts?

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