With COVID-19 not the only factor at play in the Olive Oil sector, Nick Peksa of Cost Insights examines the industry’s prospects. This article first appeared in ESM Issue 4 2020.
Earlier this year, crude oil prices went negative for the first time in history. It was quite a surprise when the markets dramatically crashed; of course, this was followed by one of the biggest rallies the industry has ever seen.
The continuous period of reduced demand due to COVID-19 has resulted in US oil inventories rising to a record 538.1 million barrels.
