As the global economy reels under the weight of COVID-19, the oil and gas industry has been affected by another shock as global oil prices have collapsed for the third time in the last 13 years. This decline is compounding the impact of the pandemic in cities where the oil and gas industry is an important, or even dominant contributor to the local economy.
The report highlights six markets across the Americas—Calgary, Dallas, Denver, Houston, Rio de Janeiro and St. John’s, Newfoundland and Labrador—where the oil and gas industry contribute greatly to local economic activity and commercial real estate markets.
Learn how these markets performed in previous oil market downturns as a potential indicator of future performance in The Impact of COVID-19 and Oil Price Declines on Oil Sensitive Office Markets.
