But if you were hoping for a quick, V-shaped recovery in oil demand, look away now. (File pic shows oil storage, at Cushing, Oklahoma.
REMEMBER negative oil prices and the fear that every storage tank on the planet would get filled to the brim?
That seems a long time ago, with West Texas Intermediate (WTI) crude now hitting US$40 a barrel and the buildup of stockpiles poised to go into reverse. The warning sent by that trip below zero was heeded. Oil production was slashed and the crisis averted.
But if you were hoping for a quick, V-shaped recovery in oil demand, look away now.
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