The Profitability of the Oil Industry Oscar Ugarteche and Arturo Martinez Paredes

The crisis over COVID-19 has hit the world economy as a whole. This note will review the effects on the oil industry, the fall in the volume of world supply and demand, and the prices of crude oil quoted on international markets, especially the West Texas Intermediate (WTI). It will also explain the loss of profitability in the industry and some variables not considered related to the change in the energy matrix.

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(Oscar Ugarteche is a Senior Researcher “C”, IIEc-UNAM, NIS III Conacyt, obela.org coordinator and Arturo Martínez Paredes is a Faculty of Economics, UNAM, Member of obela.org)