Thread by @meme_machines, 12/10 Don't be fooled by Trump's pump. They have to lower oil [...]

Haddock #Article25

meme_machines

12/10 Don't be fooled by Trump's pump. They have to lower oil production ~ there's dwindling storage. http://www.forbes.com/sites/gauravsharma/2020/03/31/oil-storage-may-run-out-in-6-weeks-as-crude-futures-endure-worst-ever-quarter/

Oil Storage May Run Out In 6 Weeks As Crude Futures Endure Worst Ever Quarter

As fears over crude oil demand depression continue to rise in the wake of the coronavirus epidemic, the scramble for storage has hit unprecedented levels.

http://www.forbes.com/sites/gauravsharma/2020/03/31/oil-storage-may-run-out-in-6-weeks-as-crude-futures-endure-worst-ever-quarter/

"Prices for Brent crude initially leapt by nearly 50 percent after Mr. Trump’s tweets, but dipped again as it became unclear whether his supposed breakthrough would materialize." via https://www.nytimes.com/2020/04/02/us/politics/trump-russia-saudi-arabia-oil.html?action=click&module=Spotlight&pgtype=Homepage

Trump Promotes Oil Deal That May Not Exist

The president’s optimism for a deal between Saudi Arabia and Russia to reduce production and a Saudi call for talks send crude prices skyrocketing, but Moscow showed little enthusiasm.

https://www.nytimes.com/2020/04/02/us/politics/trump-russia-saudi-arabia-oil.html?action=click&module=Spotlight&pgtype=Homepage

More Crooner virus noise https://www.bbc.co.uk/news/business-52249103?intlink_from_url=https://www.bbc.co.uk/news/business&link_location=live-reporting-story

Trump promises 'help' to clinch oil cut deal

Oil producers are working to coordinate a supply cut in an effort to stabilise plunging energy prices.

https://www.bbc.co.uk/news/business-52249103?intlink_from_url=https://www.bbc.co.uk/news/business&link_location=live-reporting-story

In case you missed it... https://www.washingtonpost.com/business/2020/04/20/oil-barrel-below-zero/

Oil drops below $0, signaling extreme collapse in demand. But you’re still going to have to pay for...

No one wants oil for the coming month, and now producers can't give it away.

https://www.washingtonpost.com/business/2020/04/20/oil-barrel-below-zero/

Leads, lags, and jugs of Forrester Ale @OliverBeige? https://www.theguardian.com/world/2020/apr/20/oil-prices-sink-to-20-year-low-as-un-sounds-alarm-on-to-covid-19-relief-fund

Oil prices dip below zero as producers forced to pay to dispose of excess

US crude has negative value for first time in history as stockpiles overwhelm storage facilities

https://www.theguardian.com/world/2020/apr/20/oil-prices-sink-to-20-year-low-as-un-sounds-alarm-on-to-covid-19-relief-fund

For those with a more traditional taste, notice this thread's tanker reversal..

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