• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 17 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 8 days Does Toyota Know Something That We Don’t?
  • 2 days America should go after China but it should be done in a wise way.
  • 8 days World could get rid of Putin and Russia but nobody is bold enough
  • 10 days China is using Chinese Names of Cities on their Border with Russia.
  • 11 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 11 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 10 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 18 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 2 days How Far Have We Really Gotten With Alternative Energy
  • 11 days Putin and Xi Bet on the Global South
  • 11 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
Houthi Red Sea Attacks Are Boon for Pirates as Ships Reroute

Houthi Red Sea Attacks Are Boon for Pirates as Ships Reroute

It’s unlikely that surging piracy…

Plunging Natural Gas Prices Is Bad News for Drillers

Plunging Natural Gas Prices Is Bad News for Drillers

The once red-hot labor market…

Warren Buffett Regrets Owning Electric Utilities

Warren Buffett Regrets Owning Electric Utilities

Buffett recognizes that the US…

Editorial Dept

Editorial Dept

More Info

Premium Content

The Geopolitical Silver Lining Of COVID-19

Politics, Geopolitics & Conflict

There is one clear benefit of coronarvirus - however temporary and however fragile: A sense of world peace, even if it’s not real. COVID has officially put the US-Iran conflict on hold. A proxy battle taking place in Iraq is now being pulled back, with Washington refraining from responding further to attacks from Iranian-backed militias at a time when Iran is being crushed with coronavirus. Of the major war or proxy war zones that we have been covering here, Libya remains in its usual state of stalemated civil war, but that’s also because COVID-19 has not yet taken hold in the country.

Market Movers

- Canada’s oil industry has been hit particularly hard by the virus, bringing WCS down to less than $6 per barrel on Thursday before regaining some lost ground to hover at around $13 - still hardly enough for anyone to profit. As one might expect, Canadian oil companies are cutting their capital spend for the year to the tune of billions of dollars. Canadian Natural Resources is cutting its CAPEX by more than C$1 billion, Crescent Point is cutting between C$700 million to $800 million, Enerplus is cutting 40% off its spend or C$325 million, and Husky Energy is cutting C$1 billion, to name a few.

- To assist its oil industry, Canada is thought to be preparing in secret a package to distribute aid to its oil industry. The package could be worth $10 billion and may roll out as early as next week.

-…





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News