, Columnist
The End of Demand Isn't the End for Big Oil
Producers may be worried because 150 years of uninterrupted growth have drawn to a close. The iron ore market may offer a lesson.
There is an afterlife.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
The oil market is taking reports of the death of crude surprisingly well.
Crude jumped to its highest level in more than a year Friday, on signs that inventories are declining amid a hoped-for recovery from Covid-19. Brent moved as high as $59.12 a barrel, within a whisker of the $60 level where swathes of the industry find it easy to balance their books.