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CEOs Bank Big Bonuses As Oil Companies Go Bankrupt


When public oil and gas companies are doing relatively well, many are happy to adopt a pay-for-performance model to reward CEOs and executives. However, the tables are quickly turned when things go to the dogs. When these companies go bankrupt, the misery is shared by employees who lose their jobs; retirees see their benefits and […]

BP to cut 10000 jobs worldwide amid virus pandemic


Oil and gas company BP announced Monday that it will slash its global workforce by 10,000 jobs as the COVID-19 pandemic slams the energy industry. Chief Executive Bernard Looney said that the cuts will affect office-based roles in BP’s global workforce of 70,000 people and come mostly this year. The changes are expected to significantly […]

The case for the suburbs


The topic of suburbanization has come to the forefront as COVID-19 spreads and the subsequent shutdown endures. As the virus lingers, we have seen big-city residents seeking shelter by migrating to less dense places in the suburbs. While most of these moves are a temporary response to the pandemic, population data suggests urban centers have […]

Oil Market Could See Long Term Contango


The oil market could stay in a state of contango for longer after supply and demand finally balance due to the vast amount of crude and products in storage, Reuters reported on Friday, citing analysts and investment banks. Contango is the state of the market in which prices for delivery at later dates are higher […]

Kunstler: When Giants Fall


It was only a few decades ago that Walmart entered the pantheon of American icons, joining motherhood, apple pie, and baseball on the highest tier of the alter. The people were entranced by this behemoth cornucopia of unbelievably cheap stuff packaged in gargantuan quantities. It was something like their participation trophy for the sheer luck […]

Industry hit by weak demand finally faces threat from electric cars


Oil companies may be facing uncertainty as the coronavirus pandemic triggers a collapse in demand for their products, but automakers are betting the crisis will help accelerate an electric future. With economies reeling from lockdowns to curb the virus, the sharpest plunge in oil prices in two decades has slashed the cost of filling up […]

Will Oil Demand Reach Pre-COVID Levels as Lockdown Measures Ease?


With the WTI June futures contract settlement date just around the corner, market participants are watching oil prices closely. However, hope remains that oil prices won’t go negative again this month, and moreover, that oil will still be able to rebound as lockdown measures ease. Earlier this week the Chief Executive of BP, one of […]

Saudi Aramco’s Stock Trades on a Different Planet


Don’t worry if you missed Saudi Aramco’s earnings call: There wasn’t one. Now the sticklers and bores among you might raise a hand and suggest that, what with the global pandemic, oil crash and assorted what-have-yous, it might be advisable for the biggest oil major in the world to spare an hour for an update. But honestly, […]

Oil Crash Busted Broker’s Computers and Inflicted Big Losses


Syed Shah usually buys and sells stocks and currencies through his Interactive Brokers account, but he couldn’t resist trying his hand at some oil trading on April 20, the day prices plunged below zero for the first time ever. The day trader, working from his house in a Toronto suburb, figured he couldn’t lose as […]

Can oil recover from coronavirus? An industry debate is underway.


When the pandemic is all over will society go back to driving cars and hopping on planes with nary a worry as it did just two short months ago? Or is the world more permanently changed, with the commute to work a thing of the past, public events radically scaled back and the confined spaces […]

“Biblical” Wave Of Bankruptcies Is About To Flood The US


One of the silver linings of the coronacrisis to date is that despite the unprecedented collapse in the broader economy and the 30 or so million unemployed, the pace of bankruptcy filings has been relatively steady compared to the pre-covid levels, as the following Goldman chart shows. Unfortunately the relative calm is not meant to […]

Millions of farm animals culled as US food supply chain chokes up

Millions of farm animals culled as US food supply chain chokes up thumbnail

Covid-related slaughterhouse shutdowns in the US are leading to fears of meat shortages and price rises, while farmers are being forced to consider “depopulating” their animals. More than 20 slaughterhouses have been forced to close, although some have subsequently reopened. On Tuesday President Trump issued an executive order to keep slaughterhouses open which would, he […]

How natural gas is withstanding the energy market collapse


Natural gas is withstanding the coronavirus-fueled economic crash in a way that its closely associated relative, oil, isn’t. Oil prices have reached record lows, with the U.S. benchmark oil price briefly dropping below zero last month after trading at around $60 per barrel at the start of 2020. The U.S. natural gas price, meanwhile, is […]

The Wave Of Shale Well Closures Has Finally Begun


U.S. shale oil producers have so far held up admirably, hanging on for dear life amidst the biggest oil demand collapse in history. American producers continued to pump at record highs in March, even after dozens of drillers laid out blueprints to limit production. But with U.S. storage about to hit tank tops in a matter of […]

Explaining Negative Oil Prices

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The most simple explanation for negative oil prices is that midstream players are now paying buyers to take oil volumes away as the physical storage limit will be reached. That’s what Rystad Energy’s Oil Market Analyst Louise Dickson said in a statement sent to Rigzone, adding that “top dollar” was being paid. “Pricey shut-ins or […]

A Conversation with Ray Dalio


Bloomberg Editor-at-Large Erik Schatzker talks with famed American investor and Bridgewater Associates Founder, Ray Dalio. Together they discuss the COVID-19 pandemic’s impact on markets, bonds, and longer-term implications he sees for inflation, trade, globalization, and fiscal policy.

Oil prices extend slide one day after U.S. crude drops below zero

Oil prices extend slide one day after U.S. crude drops below zero thumbnail

A collapse in the price of oil continued to disrupt world markets as investors on Tuesday braced for another deep dive in U.S. stocks. Global benchmark Brent crude fell nearly 17 percent, one day after the U.S. benchmark fell below zero for the first time in history. Brent crude was trading at $21.35 a barrel […]

Here Is The Full Explanation Behind Today’s Unprecedented Negative Oil Price


Courtesy of IHSMarkit’s energy vice president Roger Diwan How did you end up with negative oil prices today?  This happens when a physical futures contract find no buyers close to or at expiry. Let me explain what that means: A physical contract such as the NYMEX WTI has a delivery point at Cushing, OK, & […]

The Real Reason Oil Futures Plunged On Monday Isn’t What You Think

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KHANTY-MANSI AUTONOMOUS AREA – YUGRA, RUSSIA APRIL 5, 2020: A Surgutneftegas worker near a pumpjack … [+] Alexei Andronov/TASS Ouch! On the face of it, things look bad for the oil market. That’s an easy conclusion to make from the epic dive crude oil futures prices took on Monday. But the bigger story is far […]

Texas Oil at $2 a Barrel Raises Specter of Negative Prices


Crude prices in America’s oil capital are getting dangerously close to zero. Buyers bidding for crude in Texas, the birthplace of the shale revolution, are offering as little as $2 a barrel for some oil streams, a precipitous markdown from a month ago. The slumping value of physical barrels is raising the possibility that Texas […]

Mexico’s state oil company hasn’t paid hundreds of workers for months


Mexico’s populist president is trying to reshape the country into an economy with strong worker protections that is driven by oil growth. Yet hundreds of workers at state oil firm Pemex have gone unpaid for months, current and former employees told Quartz. Even in the midst of the coronavirus pandemic, Pemex has not paid many […]

How Will the Energy Industry Change in Light of COVID-19?


It’s virtually impossible to find a sector unaffected by the COVID-19 pandemic. As government leaders issue orders to stay at home, people must work differently, and they often face difficulties getting everyday essentials. The energy industry is one of many facing changes due to the coronavirus. It Will Make People More Cognizant of the Need […]

Coronavirus And The Coming Financial Revolution


The coronavirus pandemic is one of the biggest and unprecedented seismic shifts in the global economy that we’ve ever seen in modern history, and it’s just getting started. Already, economies around the world are shutting down. The federal reserve has pumped trillions into the United States economy in just a matter of days. Global supply […]

Population Growth and Global Food Supplies

Population Growth and Global Food Supplies thumbnail

Article in the UK Independent, suggesting that corona could help accelerate the end of the oil age. For starters, corona crashed the airline industry, a large oil consumer. Additionally the global lock-down caused many to work from a home office, exit commuting. And then there is climate crisis. And the WTO, predicting that world trade […]

The Worst Economic Collapse Ever?

The Worst Economic Collapse Ever? thumbnail

Country after country has reported extremely dark economic numbers. The gigantic jobless claims, 6.6 million from the U.S. last week, are just the tip of the iceberg. For example, the service sector PMIs have been simply ghastly across the globe. We are now in a crisis of epic proportions. But, how massive can the crisis eventually get? […]

Is peak disease forming?

Is peak disease forming? thumbnail

Global equity markets have surged higher over the past 24 hours on the back of positive developments in the containment of COVID-19. Sunday saw a significant pull-back in new cases in Spain and Italy, while cases in the US (and New York) pulled back too. Indeed, the five countries with the largest confirmed cases (US, […]

The Biggest Threat To Western Oil Majors


The international oil market is composed of two types of companies: International Oil Companies (IOC) and National Oil Companies (NOC). The former are Western firms with their origin often linked to the colonial past such as BP and Royal Dutch Shell. NOCs, on the other hand, were founded in a wave of nationalism in the […]

The Bailout Bonanza is Back!

The Bailout Bonanza is Back! thumbnail

  The emphasis has to be on HOG as they squeal for corporate welfare and push their snouts into the trough. One hedge hog says the government needs to bail out all businesses by paying all wages so companies that depleted all cash don’t have to pay to retain all workers:   Bill Ackman✔@BillAckman Mr. […]

The Best Day In The History Of Oil Markets

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Crude oil just had its best day ever, only a day after its third-worst drop in history. West Texas Intermediate jumped more than 23% to $25.22 a barrel on Thursday. However, it remains on track for its worst monthly decline on record as a supply glut and demand concerns keep oil investors on edge. Three […]

How will oil and gas companies solve the energy trilemma?


The price of oil is dependent on supply and demand – with the latter being more significant at present. Notice that the price of petrol has fallen over the last month? This is directly related to the coronavirus outbreak, which has led to fewer people travelling, and subsequently less demand for petrol, diesel and aviation […]

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