Global Resource Amidst The Corona Times
2020 has been a tough year for many countries and the world at large. That’s because of the stay at home directive meant to curb the spread of the virus. This, in return, affected many businesses, with some even closing down until the situation stabilizes. The essential companies were the only ones left in operation. These included hospitals and food stores. The condition also affected the oil industry, and there so many hiccups in the oil supply chains.
Global resources are one of the affected companies. It is a worldwide company with dealings in mineral and petroleum projects across the world. It deals with obtaining and managing oil products. They do research, and after identifying a potential zone, they proceed to exploit it. They are also into dealing with minerals like gold and precious stones.
The invasion of covid 19 has brought several changes within the company. In an interview, the USA secretary of domestic energy said that there would be a high oil demand once the disease is gone. Also, Global Resources predicts that there will be changes due to coronavirus. One of the changes is discussed below.
Asia will open up for oil opportunities.
The supply and sale of oil will go down due to the invasion of covid. This will mean that companies will reduce their daily oil output. This is because of the traveling restrictions. On the contrary, the china oil market is slowly opening up with the lifting of their lockdown. Therefore, the demand in Asia has gradually started rising. This further means that China will be leading in the oil business even as other parts of the world remain locked. The advantage with the country is that they learned the survival tactics on the disease earlier. Their easy management of the same has also led to the reopening of other markets.
According to the founder of GPB Global Resource, Africa is also another potential market for the oil business. That’s because its market is not fully supplied. Also, there is increased population growth in the continent. This growth is translating to more demand for oil and allowing oil companies to trade. He further added that GPB Global Resources has worked on improving oil infrastructure in some parts of Africa. This will, in return, help the company access the African market quickly.