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North American Midstream Energy Quarterly Commentary March 2020


As new cases of COVID-19 accelerated worldwide during the quarter, the world economy came to a halt. Sudden demand-shock hit the oil market hard as countries put a restriction on travel and pushed for social distancing to combat the deadly disease. The two largest oil and gas producers, Saudi Arabia and Russia, instead of cutting production to balance the supply and demand dynamics, decided to fight for the market share in the process…

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