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By Robert Rapier I have been warning since January that the long-term ramifications of the ongoing coronavirus (COVID-19) outbreak on the oil industry could be significant and long-lasting. In March we … Read more
An unprecedented number of Americans have resorted to food banks for emergency supplies since the coronavirus pandemic triggered widespread layoffs. The demand for food aid has increased as much as … Read more
From Birch Gold Group This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: Physical gold is getting more difficult to … Read more
Link to article: www.reuters.com/article/oil-opec-russia-rdif/russias-rdif-new-opec-deal-possible-to-address-demand-if-others-join-idUSR4N2B4012 Of note this isn’t coming out of Alexander Novak, Russia’s MoE who is the official point of contact, or commentary from Igor Sechin who runs Rosnef and … Read more
By Tsvetana Paraskova Global oil demand could plummet by 18.7 million bpd in April, deepening an expected demand plunge of 10.5 million bpd for March, Goldman Sachs said, while the … Read more
By Irina Slav Demand for gasoline in the United States fell by 859,000 bpd, the Energy Information Administration (EIA) said in its weekly petroleum status report. According to Reuters, this is … Read more
By Irina Slav A dramatic change in oil demand coupled with an unexpected increase in production has upended the industry, Vitol’s chief executive Russell Hardy told Bloomberg in an interview. At its … Read more
So as best I can tell this morning we now have: – A pandemic crisis– A supply chain crisis– A demand crisis– A labor market crisis– An equity market crisis– … Read more
by Steve St Angelo of SRSrocco Report The world is heading towards a global depression, but the market hasn’t quite figured it out yet. Unfortunately, many analysts and economists continue to believe that … Read more
BY SRSROCCO The world is heading towards a global depression, but the market hasn’t quite figured it out yet. Unfortunately, many analysts and economists continue to believe that the worldwide … Read more
by Shaun Richards Yesterday was quite something with the extraordinary oil price decline topped off by a more than 2000 point fall in the Dow Jones Industrial Average in the … Read more
By Irina Slav Morgan Stanley updated its oil demand forecast for this year, saying it expected it to be close to zero in China after the devastating coronavirus epidemic. “We … Read more
The issue with a possible stimulus is that it works on the demand side, not the supply side. The virus outbreak causes both a supply shock and a demand shock … Read more
Low Tier Skyrockets. Super-Luxury in Trouble. Condo, High-Tier House Prices Stall Since mid-2018. By Wolf Richter for WOLF STREET. The Los Angeles metro housing market has some of the most expensive properties in the … Read more
By Tsvetana Paraskova China’s fuel exports are booming amid battered domestic demand due to the coronavirus outbreak, analysts and trade sources tell Reuters as higher Chinese exports flood the Asian market, which … Read more
By Tsvetana Paraskova The coronavirus outbreak could hit global oil demand growth more than currently expected, the head of the International Energy Agency (IEA) said on Tuesday, adding that the agency … Read more