Postmortem of the Infamous Day WTI Crude Oil Futures Went to Heck in a Straight Line by Wolf Richter • Apr 23, 2020 • 62 Comments The US Energy Information Agency (EIA) dissects the historic event.
U.S. Shale Faces Largest Ever Drop in Fracking Activity by Rystad Energy • Apr 22, 2020 • 32 Comments “With such rapid decline in fracking already visible, very little activity will be happening in the oil basins during the remainder of Q2.
Holy WTF Moly: WTI May Contract Collapses to Negative -$37 by Wolf Richter • Apr 20, 2020 • 259 Comments Meanwhile this is a moment for historic reflection and head-shaking.
US Crude Oil Gets Annihilated Under Targeted Saudi Attack by Wolf Richter • Apr 20, 2020 • 153 Comments West Texas Intermediate (WTI) futures collapsed 45% today from the already collapsed price, to $10 a barrel, lowest since 1999.
U.S. Oil Drilling Grinds to Halt at Key Shale Hotspots by Nick Cunningham • Apr 15, 2020 • 87 Comments The sudden declines in production illustrates the fatal flaw in the shale business model.
How Will COVID-19 Impact US Manufacturing? First Indications Are Ugly. Exacerbated by Underlying Conditions by Wolf Richter • Mar 30, 2020 • 124 Comments Economic powerhouse Texas first got hit by the Oil Bust then by the Coronavirus. Expect similar confluence of unrelated factors in other regions.
The Great American Shale-Oil Bust Turns into Massacre by Wolf Richter • Mar 9, 2020 • 175 Comments Shares of shale oil drillers collapsed by 25%-50% today. Their bonds got massacred. Saudi-Russia price-war strategy appears successful in wiping out investors in the US shale-oil sector.
Good Morning America, All Heck Broke Loose in the Markets Overnight by Wolf Richter • Mar 8, 2020 • 219 Comments Crude Oil Collapses 32%, US Stock Futures Plunge nearly 5%, 10-year Treasury Yield Gets Closer to 0%, Gold Jumps to $1,700, Asian Stocks Plunge, Nikkei -6%.
Ex-CEO of Pemex Arrested for “Looting Mexico” by Nick Corbishley • Feb 15, 2020 • 75 Comments Now attention is switching to former President of Mexico Peña Nieto.
After Coronavirus Measures, China’s Crude Oil Demand Plunges 20%: Industry Sources by Wolf Richter • Feb 3, 2020 • 82 Comments “Largest demand shock the oil market has suffered since the global financial crisis, and the most sudden since the Sept. 11 attacks.”
