The coronavirus has impacted multiple areas of society, including the energy sector. Due to the global outbreak, demand for oil has diminished, resulting in plummeting oil prices and production declines, especially in the wake of the Russia-OPEC price war.
However, Russia is not a country included in OPEC. The invitation extended to Russia was due to a deal Russia agreed to three years ago. The agreement was a pact called OPEC+ that requires Russia to harmonize its production levels with the OPEC group.
Adam Ferrari is the founder of Denver-based mineral acquisitions company Ferrari Energy. He is a chemical engineer by degree and is an accomplished petroleum engineer by profession. He also has experience in the financial sector through his work at an investment banking firm. Under his leadership, his company supported organizations including; St. Jude Children’s Hospital, Freedom Service Dogs, Denver Rescue Mission, Coats for Colorado, and Next Steps of Chicago.