Covid-19 and climate worries may not keep oil prices down for long

Covid-19 is still raging across the world, global economic activity remains impaired and there is a worldwide drive towards renewable energy as governments look to tackle climate change. That hardly seems a recipe for a higher oil price, but first impressions can be deceiving.While the price of oil had tanked as markets recognised both the enormity of the pandemic and its knock-on effect on economic activity, crude oil prices have since bounced back amid growing optimism about the roll-out of…

Read the original article at South China Morning Post