“Largest demand shock the oil market has suffered since the global financial crisis, and the most sudden since the Sept. 11 attacks.”
Texas at the epicenter. We’re witnessing the destruction of money that loosey-goosey monetary policies encouraged.
Where the heck are the EVs when you need them?
Shares have collapsed 75% since 2017.
“The capital markets for oil and gas remain extremely difficult.”
It’s not the consumer.
As US oil production surges, the global oil market will be fundamentally oversupplied in 2020.
But US “Energy Independence” is More Complicated.
Including billionaires who thought they’d picked the bottom in 2016.
Shale oil producers are under fire from investors, while most analysts see a supply glut in 2020.