The global economy could be on the brink of a new commodity “supercycle” as governments prepare to use a green industrial revolution to kickstart growth following the coronavirus pandemic.

The price of commodities, such as energy and metals, have reached record highs in recent weeks despite the ongoing spread of Covid-19 and are expected to climb further as countries embark on plans for a green economic recovery.

Green Economy Plans Fuel New Metals and Energy ‘Supercycle’ | Devamı>>>

Russia and Saudi Arabia both rely on oil sales to fund a majority of their budgets. In the last five plus years, China has become the biggest customer for both countries. In fact, China is the world’s largest importer of oil, though it could cut imports if it stopped adding to inventory (storage). China has stored so much oil over that half a decade, that it could practically halt all oil imports and get by just fine for a while.

How Russian and Saudi Oil Ties to China | Devamı>>>

The gas price at Waha registered a low last Thursday of minus $2.50 per million British Thermal Units and closed at minus $1.95, its lowest level since S&P Global Platts started collecting the data back in 1994. The steep negative prices last week were in part caused by equipment failures on one pipeline system and planned maintenance on another, which made it harder to find outlets for unwanted gas.

The fundamental problem in west Texas, however, is that there is a growing oversupply of gas that is a byproduct of booming crude output in the shale oilfields of the Permian Basin.

Shale Boom Cuts Price of Gas to Record Low | Devamı>>>

For the global energy industry, China’s importance is hard to overstate. It is the world’s largest oil importer and is on course to be the largest gas importer this year. It accounts for about half the world’s coal consumption and almost a third of global investment in “clean” energy. If the Chinese economy were to go into a downturn, producers of energy commodities and technologies all around the world would be affected. China accounted for just over a quarter of the increase in world oil demand last year, according to Opec, and is expected to make about the same contribution this year, with its own consumption growth slowing in tandem with the global total.

The Week in Energy: China’s Slowdown | Devamı>>>