Project Delays are Not the Worst Effect of Coronavirus on Upstream O&G

The upstream oil and gas sector’s biggest commercial fear from the Coronavirus (COVID-19) epidemic is its impact on demand and prices. Only a small proportion of global supply comes from the worst-affected regions.

Manufacturing shutdowns and shipping bottlenecks are causing project delays. Vessels and other large components being constructed in affected shipyards have the most obvious supply impact. But the volumes at risk are not material in global production terms, Wood Mackenzie said.

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