Risk level: RED RED: Severe (+/- 4%) ORANGE: High (+/- 3%) YELLOW: Elevated (+/- 2%) BLUE: Guarded (+/- 1%) THE BOOSTER SHOT -Riyadh shifts from oil market offense to defense. -As oil goes, so too goes the global hierarchy of power. The diplomatic and defense spat between the United States and Saudi Arabia shows that … More Saudi Arabia; Reluctant Swing Producer
-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
-IMF: The Great Depression got nuthin’ on the COVID collapse -10 million bpd or 20 million bpd depends on how you do the math. Questions over the details of what’s been described as a historic breakthrough for global oil producers left Brent crude oil prices in the red early Tuesday. US President Donald Trump said … More The Daily Dose
The GERM Report 