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While the outlook for global crude oil remains subdued, the world’s most important commodity is quickly losing its value, as the chronic oversupply overwhelms storage capabilities of crude tanks, pipelines and super-tankers.

Oil Armageddon: Is Black Gold Turning into Red Ink?

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While the outlook for global crude oil remains subdued, the world’s most important commodity is quickly losing its value, as chronic oversupply overwhelms the crude tanks, pipelines and super-tankers across locations. For the first time in history, the US oil futures nosedived to negative territory for May delivery, with the benchmark Brent plunging to a two-decades low, below USD20 per barrel.

Magnifying the spiralling oil price, the increasing lockdowns globally in countering COVID-19 further crush the demand for oil.

What are the key forces driving the crude oil market, and what are the implications of the oil price on various aspects of the global and Malaysian economy and the longer-term prospects for the oil and gas industry. 


  • Deepak Kumar Thakur, CFA, VP - Economics and Business Planning, Hibiscus Petroleum Berhad
  • Ahmad Nabil Nazri, CFA, Director of CFA Society Malaysia

Watch the Webinar

Duration: 1 hr 5 min.

Recorded: 19 May 2020.


Deepak Kumar Thakur CFA

Deepak is an oil and gas professional with 12 years of diverse work experience in economic modeling, valuation, corporate strategy and planning, mergers and acquisitions, investor relations, economic analysis, and petroleum engineering. He has worked on multiple oil and gas opportunities across Malaysia, India, Indonesia, North Sea United Kingdom, Australia, Africa, and Middle East. In his current role as VP- Economics and Business Planning with Hibiscus Petroleum, he conducts economic evaluations of existing and new business opportunities, and provides regular economic analysis and group cash flow forecasts. He has previously worked with Essar Group, Morgan Stanley and Prize Petroleum in India.

Ahmad Nabil CFA

Ahmad Nabil, CFA is presently attached to Credit Guarantee Corporation Malaysia and is in charge of the organization's financial reporting function. Prior to this, he worked with the Securities Commission Malaysia in the field of Enforcement, and with Bursa Malaysia as a Surveillance Officer responsible for the monitoring of the day-to-day activities of equities market.
Prior to joining the Securities Commission Malaysia , he was attached to QuantePhi, a boutique corporate finance advisory firm advising client's corporate finance endeavors including but not limited to debt and corporate restructuring, valuation services and Mergers & Acquisitions ("M&A") deals. Amongst the sizeable deals he was involved in significantly include the Proton-Geely partnership signed in 2017. Nabil graduated from Universiti Tunku Abdul Rahman in 2010 with a Bachelor of Science (Hons) majoring in Actuarial Science.