Risk level: RED RED: Severe (+/- 4%) ORANGE: High (+/- 3%) YELLOW: Elevated (+/- 2%) BLUE: Guarded (+/- 1%) THE BOOSTER SHOT -OPEC+ may have overshot. -BP to cut headcounts by 10,000. Crude oil prices looked set to establish a floor at around $40 per barrel after parties to the latest OPEC+ curtailment measure agreed … More OPEC’s Balancing Act is Wobbly
-Some oil market players see opportunity in times of crisis. -New OPEC+ restraint in play today, but it’s restraint from great heights. Adapt or die. That may be the mantra that separates the energy companies that collapse in the quarantine economy and those that endure. The severe downturn has already forced rig company Diamond Offshore … More The Daily Dose
-A fear factor may be at play in the price of oil. -The quarantine economy knows no quarter. First quarter GDP in the United States showed a 4.8% contraction, Germany – Europe’s largest economy – could post a 6.6% dip this year and Saudi Arabia reported that oil revenues were down 24% year-on-year. The quarantine … More The Daily Dose
The GERM Report 