The initial impact of both events on oil and gas infrastructure was very similar, with huge swathes of both offshore and onshore production being taken out of action. Yet, when it came to prices, there were no similarities, with oil markets in September 2005 behaving in an entirely different way to September 2021.

It would be “stating the bleeding obvious” to say that the pandemic has seen both winners and losers in the business world. The oil industry has been no different, although probably, overall, there have been more losers than winners.