April worst month for oil industry

LONDON. — International Energy Agency (IEA) Executive Director Fatih Birol said yesterday this month could prove the worst ever experienced by the oil industry.  “In a few years’ time, when we look back on 2020 we may well see that it was the worst year in the history of global oil markets,” Birol told a reporter on a conference call after the IEA energy watchdog released its monthly report.

“During that terrible year, the second quarter may well have been the worst of the lot. During that quarter, April may well have been the worst month — it may go down as Black April in the history of the oil industry.”  — Reuters.