-The free market is working. -Eni says this is the most complex moment in 70 years. A do-nothing approach to the oil economy is impacting supply dynamics in a way that no artificial mechanism can. After cutting production earlier this month, Bakken producer Continental Resources is halting drilling operations in North Dakota. Italian major Eni … More The Daily Dose
-Cushing is already full. -The US oil economy may need a panic button. The primary US commercial storage facility in Cushing, Okla., is full for all intents and purposes. That’s the word Tuesday from Ole Hansen, the head of commodity strategy at Saxo Bank, after the biggest collapse in US crude oil prices since record-keeping … More The Daily Dose
-Trump no longer hates OPEC. -Any OPEC cuts would come from already extraordinary heights. Some 6.6 million Americans lost their jobs last week, though equities markets are showing a return to optimism amid early signs of a slow pandemic recovery. In the American oil sector, however, the pain is severe and enduring, with investments receding … More The Daily Dose
The GERM Report 