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The momentum of coronavirus in the USA and key European oil and gas centres represents a critical supply risk for oil and gas operators around the world, according to a report by Andy Tidey from energy consultancy Wood Mackenzie’s consulting team

The Covid-19 pandemic has ravaged global oil demand and, coupled with the extremely low price levels brought on by the wide supply surplus, is likely to cause the largest monthly drop in fracking activity ever recorded in the US, a Rystad Energy analysis shows

Since oil prices crashed into negative territory earlier this week, Brent Crude prices have remained low at US$19.33 a barrel and WTI oil at US$10.01 a barrel at the time of writing

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