The Bad News for Oil Just Keeps Coming, With No End in Sight?




from WallStForMainSt

The last few weeks more and more bad news keeps coming out for the oil price and the oil industry. Oil analysts are making lower and lower oil price projections (some have a negative price prediction less than zero).

These stories do not paint a good picture that the oil market has bottomed and the bear market is over:
1) The world’s on the brink of running out of places to put oil https://business.financialpost.com/co…
2) Pompeo Urges Saudi Crown Prince To “Rise To Occasion”, Help Lift The Price Of Oil https://www.zerohedge.com/energy/pomp…
3) Tens of Thousands Are Getting Laid Off in U.S. Shale Patch https://finance.yahoo.com/news/tens-t…
4) Thousands of oil workers are getting laid off in the Permian Basin https://www.dallasnews.com/business/e…
5) Texas Regulator Considers Oil Output Cuts for First Time in Decades https://finance.yahoo.com/news/texas-…
6) U.S. Calling on Saudis to Halt Plan to Unleash Record Oil Supply https://finance.yahoo.com/news/u-urge…
7) Ten signs the oil industry is bent out of shape https://finance.yahoo.com/news/ten-si…
8) U.S. OIL PRICE COLLAPSE = U.S. ECONOMIC COLLAPSE https://srsroccoreport.com/u-s-oil-pr…
9) Coronavirus Could Bankrupt 20% Of European Oilfield Services https://oilprice.com/Energy/Energy-Ge…
10) IEA Boss Warns Demand Will Plunge By 20 Million Barrels Per Day https://oilprice.com/Latest-Energy-Ne…
11) April Could Be Worst Month Ever For Oil https://oilprice.com/Energy/Energy-Ge…
12) Oil Majors Are Preparing For $10 Oil https://oilprice.com/Energy/Energy-Ge…
13) U.S. Halts Plan to Buy Crude Amid Uncertainty Over Funding ...Published: March 26th, 2020 |

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