• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 5 mins COVID 19 May Be Less Deadly Than Flu Study Finds
  • 48 mins Would bashing China solve all the problems of the United States
  • 5 hours 60 mph electric mopeds
  • 2 hours Chicago Threatens To Condemn - Possibly Demolish - Churches Defying Lockdown
  • 1 hour Yale University Epidemiologist Publishes Paper on Major Benefits of Hydroxchloroquine for High-risk Outpatients. Quacksalvers like Fauci should put lives ahead of Politics
  • 6 hours China to Impose Dictatorship on Hong Kong
  • 59 mins Let’s Try This....
  • 1 hour HVDC Cheaper Than Low-carbon Natural Gas
  • 6 hours Nothing can shake AMLO’s fossil-fuel fixation
  • 11 hours Pompeo's Hong Kong
  • 1 hour Oil and Gas After COVID-19
  • 6 hours Iran's first oil tanker has arrived near Venezuela
  • 7 hours Natural gas is crushing wind and solar power
  • 7 hours New Aussie "big batteries"
Editorial Dept

Editorial Dept

More Info

Premium Content

Oil Storage Nears Its Limit

1. Potential debt crisis could hit commodity exporters hardest

- Emerging market assets have seen risk premiums spike, and commodity-exporting countries are seen as particularly risky.

- Venezuela, Argentina and Lebanon have already defaulted on debt payments.

- An estimated 90 countries have already turned to the IMF for emergency financing.

- Calls for a debt “standstill” arrangement at the global level are rising in order to buy time for developing countries so that they don’t face deeper crises. Absent some sort of agreement from creditors, debtors, governments and multilateral banks (IMF, World Bank, etc.) a broad debt crisis could explode.

2. Palladium market in deficit

- The market for palladium could face a deficit through 2021, despite the steep fall in auto sales, according to a report from Standard Chartered.

- The bank says that the deficit may now only be 327,000 ounces in 2020, a narrower gap than the 1.3 million ounces previously anticipated.

- More than 80 percent of palladium is consumed in the auto market.

- But the demand destruction from weaker auto sales has been partially offset by supply-side issues. South Africa, which accounts for 38 percent of global palladium output, announced a 21-day shutdown beginning on March 27, a measure that was extended through the end of April at least.

- Global supply could fall by 10 percent this year largely because of Covid-19-related…





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News