-The quarantine economy is a mismatched one. -US shale showing its resiliency. Remember Monday? Ahh, the good ol’ day. We started the week with crude oil prices rallying in stellar fashion on hopes of a vaccine for COVID-19. Since then, we’ve seen an exponential rise in new infections, particularly in the United States where partisan … More The Daily Dose; Ah … Remember Monday?
-Weak earnings reports set the mood for the day. -OPEC may have no choice but to stay where it is on production. The price for Brent crude oil is on pace for a 7.7% contraction for October as demand disintegration reemerges alongside the rise in new cases of the novel coronavirus. European countries, and now … More The Daily Dose; Brent on pace for a 10% contract in October
-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
The GERM Report 