Art Berman
Large segments of the U.S. oil industry will have to be nationalized before the year is over.
Total U.S. land rig count decreased -64 to 646 & horizontal land rig count decreased -60 to 592. Tight oil horizontal rig count decreased -46 to 453 and shale gas…
The March oil price collapse resulted from closing the U.S. economy and a terrible blunder by the world’s leading exporting nations. On Saturday March 7, discussions between Saudi Arabia and…
I’m in favor of the global output cut orchestrated by President Trump but let’s recognize it for what it is: largely irrelevant.
Coronavirus is Crushing Oil Prices On February 11, I predicted that Coronavirus would crush oil prices. Prices collapsed on February 20. Today, prices have reversed and are more than $2.00…
Saudi Arabia has repeated the blunder it made in November 2014 by increasing oil production during an oil-price collapse. In 2014, it led to a depression in the oil industry. This time, it may be the tipping point for a global economic depression.
Hope versus reality will be the manic pattern for 2020.
For those who think that devaluation or the effects of the virus will soon be memories, think again.
Barring outbreak of conflict between U.S. and Iranian forces or their proxies, however, I expect oil prices to flatten and then fall during the first quarter of 2020.
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