Economic recovery hopes are likely to be thwarted by COVID-19 until there is a vaccine, and in the meantime, supply is likely to overwhelm demand in most industrial commodities and consumer goods. Central bank interventions, ETFs and extreme financial leverage have distorted free market signals and driven massive malinvestment for years now. Resets and asset liquidation is part of a necessary, ongoing process.
Pierre Andurand, founder of Andurand Capital Management LLP, says the oil market needs shutins to happen now to rebalance the market. Here is a direct video link.