# The Oil Price Collapse Could Reshape Global Natural Gas Markets | Georgetown Journal of International Affairs |
    Georgetown University

> Russia and Saudi Arabia failed to agree on OPEC+ production quotas, causing an oil price collapse. The IEA estimates 2020 will see the first oil demand contraction since the Great Recession, and LNG markets face a similar demand shock and oversupply.

- Date: 2020-03-27 · published 2020-03-27T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/54312-the-oil-price-collapse-could-reshape-global-natural-gas-markets-georgetown
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

A sharp fall in crude and gas prices lowers energy costs for feed production and transport, and it weakens biofuel economics that support vegetable oil and corn demand.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- NATGAS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-03-27 | [Oil price crash: a glimpse into the future for global energy markets? Q&A with Pierre Noel](https://feedsoft.ai/events/7880-oil-price-crash-a-glimpse-into-the-future-for-global-energy-markets-q-and-a.md) | -1.2% | -25.9% |
| BRENT | 2017-03-09 | [OPEC’s Misleading Narrative About World Oil Supply \| The Belfer Center for Science and International Affairs](https://feedsoft.ai/events/71898-opec-s-misleading-narrative-about-world-oil-supply-the-belfer-center-for.md) | -3.7% | +1.3% |
| BRENT | 2019-03-04 | [MARKET WATCH: NYMEX, Brent oil prices drop more than $1/bbl \| Oil & Gas Journal](https://feedsoft.ai/events/60281-market-watch-nymex-brent-oil-prices-drop-more-than-1-bbl-oil-and-gas-journal.md) | +2.0% | +5.9% |
| BRENT | 2025-12-10 | [Diesel Futures Slide as ULSD Market Weakens and Inventories Rise Across Global Oil Markets - oftrb.com](https://feedsoft.ai/events/21714-diesel-futures-slide-as-ulsd-market-weakens-and-inventories-rise-across-global.md) | -4.6% | +0.6% |
| BRENT | 2019-08-31 | [Rupee Vs Dollar: turmoil in both global equity and currency markets \| VARINDIA](https://feedsoft.ai/events/57858-rupee-vs-dollar-turmoil-in-both-global-equity-and-currency-markets-varindia.md) | +1.1% | +2.4% |
| WTI | 2020-03-27 | [Oil price crash: a glimpse into the future for global energy markets? Q&A with Pierre Noel](https://feedsoft.ai/events/7880-oil-price-crash-a-glimpse-into-the-future-for-global-energy-markets-q-and-a.md) | +37.1% | -32.8% |
| WTI | 2017-04-24 | [Rival storylines duel in the global oil market \| The National](https://feedsoft.ai/events/71672-rival-storylines-duel-in-the-global-oil-market-the-national.md) | -0.6% | +1.4% |
| WTI | 2017-03-09 | [OPEC’s Misleading Narrative About World Oil Supply \| The Belfer Center for Science and International Affairs](https://feedsoft.ai/events/71898-opec-s-misleading-narrative-about-world-oil-supply-the-belfer-center-for.md) | -2.9% | +2.3% |

## Sources

- gjia.georgetown.edu: https://gjia.georgetown.edu/science-technology/the-oil-price-collapse-could-reshape-global-natural-gas-markets/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.