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OPINION

The oil industry's recovery is now in the hands of politicians

Covid-19, renewable energy and geopolitical tensions have created an uncertainty that oil might not fully recover from.

THE price of oil today has been decimated by the Covid-19 pandemic. There is significant excess capacity in oil and related product inventories that will need to be absorbed before product prices can recover and prices can rise sustainably.

This uncertainty will cause a volatile period...

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