• 4 minutes Is The Three Gorges Dam on the Brink of Collapse?
  • 8 minutes The Coal Industry May Never Recover From The Pandemic
  • 11 minutes China Raids Bank and Investor Accounts
  • 9 hours Biden admits he has been tested for Cognitive Decline several times. Didn't show any proof of test results.
  • 2 hours Putin Forever: Russians Given Money As Vote That Could Extend Putin's Rule Draws To A Close
  • 1 hour During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 12 hours Apology Accepted!
  • 4 hours Tesla Model 3 police cars pay for themselves faster than expected, says police chief
  • 15 hours U.S. natural gas at major disadvantage in Europe and China.
  • 16 hours Biden came out of his basement today (Thursday) and said , "we have 120 Million deaths from Covid 19.
  • 3 hours Why Oil could hit $100
  • 3 hours The Political Genius of Donald Trump
  • 16 hours Putin Paid Militants to Kill US Troops
  • 21 hours CoVid in Spain, 9 months before China
  • 20 hours Per most popular Indian websites it was Indian troops not Chinese troops breach of LAC that caused the clashes. If you know any Indian media that claim to the contrary please provide the link
  • 21 hours The world is headed for big problems - interview with very smart economist

Breaking News:

OPEC Production Falls To Three Decade Low

The February Hangover In Oil Markets

Have you ever celebrated an event too much? The next day isn’t always very fun. Sometimes the most enjoyable events in life such as holiday parties, weddings and birthdays are followed by terrifically awful mornings necessitating a nice long nap.

The same goes for oil and stock markets in February following a January which included an 8% jump in S&Ps and the best gain for WTI (nearly 18%) on record. So far February has included a 1% drop in WTI, flat S&Ps, earnings forecasts downgrades for 1Q and a growing chorus of negativity from financial commentators of all shapes and sizes. A quick scan of the newswires this week offers a call from fund manager Kyle Bass that the US will enter a recession in 2020, a note from Morgan Stanley’s head equity strategist that ‘earnings recession is here’ and results from a Duke University survey of US CFOs stating they overwhelmingly expect a recession in the next two years.

Wasn’t it only four short weeks ago that a newly dovish US Fed was going to place a theoretical disco ball over global risk markets and lead us to a wonderfully bullish 2019? Have the facts of the market outlook changed substantially since the calendar turned to February 1?

We don’t think so. While there are obviously nagging bearish factors at work such as anemic growth, high existing crude oil and gasoline supplies and the US/China trade battle the truth is that the two key themes driving crude oil prices in…




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