A global public health crisis has led to an extreme demand shock in energy markets, with world travel brought close to a standstill.
The Covid-19 pandemic has meant countries have effectively had to shut down, with many governments imposing strict restrictions on the daily lives of billions of people.
"I think you are going to lose a good chunk of the jet demand that would have been associated with business travel," Jeff Currie, head of commodities research at Goldman Sachs, said during a video call with reporters. Confinement measures — which vary in their application worldwide but broadly include school closures, bans on public gatherings and social-distancing guidelines — have been implemented inTo date, more than 4.1 million people have contracted Covid-19 worldwide, with 282,727 deaths, according to data compiled by Johns Hopkins University.
"So far, we would tend to think when we see a normalization globally, you'll get the leisure demand back. The part I don't think you get back is what we are doing right now," Currie said during a video call with reporters on Thursday.
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