Markets oil OPEC

Oil Spill! Crude Collapses A Day After Sliding Into Another Bear Market

Don't forget that lurking in the background is an "uber-bearish" scenario.

Don't forget that lurking in the background is an "uber-bearish" scenario.
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1 comment on “Oil Spill! Crude Collapses A Day After Sliding Into Another Bear Market

  1. lobo lógico

    Perfect storm brewing in the shadows, i.e., all that oil production is linked to oil that has little value today … and will be worthless in 3 months +/-:

    “The United States may now be the world’s biggest crude producer, but the oil being produced in its prolific Permian basin is increasingly too light in density for domestic refiners or for exports, eroding prices for these orphan barrels.”

    https://www.reuters.com/article/us-usa-oil-permian/as-permian-oil-production-turns-lighter-price-outlook-darkens-idUSKCN1T71B7

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