-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
-Russia has all the aces. -Sitton tries again. Russia may once again showcase its influence over the global energy sector by convincing free-market players to at least pay lip service to artificial control mechanisms. Dozens of major oil producers will take part in meetings coordinated by parties to the OPEC+ regime to discuss demand disintegration … More The Daily Dose
-Exxon cuts spending. Continental cuts production. -US oil sector continues to take a beating. Close to a dozen oil producing nations have been invited to a virtual town hall of sorts to discuss how to address the evaporation of global demand. The collapse of OPEC+ restraint and the closure of major segments of the world’s … More The Daily Dose
The GERM Report 