-Seasonal factors are heightened by the pandemic. -Some OPEC producers are getting impatient. It was another bruising day for crude oil prices, though major indices had recovered somewhat from the early-morning sell off. We’ve said it before and we’ll say it again, demand is a clear issue as the pandemic holds no quarter. Apart from … More The Daily Dose; Demand is Dead. Long Live Demand!
-The mood has darkened -Take the gold watch if you can get it. The news this morning was reminiscent of the dark days of spring, when US bankruptcies in the shale patch prompted calls for OPEC-like intervention in the free-market economy. Small in sample size, but huge in terms of the reverberations, Wednesday saw … More The Daily Dose; Oil News Reminiscent of April Negativity
-The oil market has a serious demand problem. -Shell is the next big company to consider restraint. The global oil market is on its knees amid an unprecedented collapse in demand. And it’s not market intervention in the oil patch, but the return of consumer activity that will resolve the issue. According to an IEA … More The Daily Dose
The GERM Report 