-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
-Old patterns are crumbling as the global economy breaks down -OPEC economists expect the Great Depression II. The free-market is picking the winners and losers in the oil market, and the losers are having none of it. Legacy production in the US shale sector had already shown signs of slowing down in late 2019, and … 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 