NEWS RELEASE / April 24, 2020

AWR Lloyd interviewed on Al Jazeera: Has OPEC lost its ability to control oil prices ?

A pandemic, a global glut and a lack of storage was the perfect storm that sent US oil prices into negative territory for the first time ever. 

Traders were forced to pay buyers to take oil off their hands. With oil at historic lows, the US oil industry is paying a heavy price with many companies filing for bankruptcy. 

Despite OPEC’s record production cut, oil prices have fallen further. Has the oil cartel lost its ability to manage prices?

Rajat Kapoor, Managing Director of Oil & Gas at AWR Lloyd, shares his thoughts on oil prices and the industry’s current challenges with Al Jazeera on Friday 24 April 2020