The Daily Dose; OPEC all-but certain to stand pat on production

-OPEC has two problems; supply and demand. -China looks inward for growth. It’s Election Day in the United States and crude prices are in rally mode. It has little to do with the U.S. contest, however, and more to do with OPEC. The production group has two clear problems; one is demand, the other supply. … More The Daily Dose; OPEC all-but certain to stand pat on production

The Daily Dose; Demand is Dead. Long Live Demand!

-Seasonal factors are heightened by the pandemic. -Some OPEC producers are getting impatient. It was another bruising day for crude oil prices, though major indices had recovered somewhat from the early-morning sell off. We’ve said it before and we’ll say it again, demand is a clear issue as the pandemic holds no quarter. Apart from … More The Daily Dose; Demand is Dead. Long Live Demand!

The Daily Dose; Demand Destruction Continues

-The second wave is here -Lack of stimulus leads to higher US poverty rates   OPEC Secretary General Mohammad Barkindo said Thursday the production group would not let crude oil prices drop too low, but the demand destruction from the pandemic may be beyond his control. In Europe, most major economies are locking down again … More The Daily Dose; Demand Destruction Continues