Miscellaneous
Russia and Saudi are feeling impact of Coronavirus demand drop on economies but not necessarily within their countries.Not uncommon for authoritarian governments to “fail” in order to show that they can do something but not actually want a fight. Small business loans, even at great rates aren’t helpful because there’s no guarantee that will be able to pay it back in the future because there’s so much uncertainty.Two weeks before we see politicians changing their tune and recognizing the economics of the situations?Possible American participation with Saudi/Russia?Will Ryan Sitton go to OPEC in June?Drastic action by the US against Saudi oil? Not so fast - the fix is not really a fix.https://www.forbes.com/sites/ellenrwald/2020/03/19/6-reasons-the-us-shouldnt-interfere-in-the-saudi-russia-oil-spat/Here are some TRC/OPEC articleshttps://www.spglobal.com/platts/en/market-insights/latest-news/oil/032020-texas-railroad-commission-chairman-opposes-opec-style-oil-production-cutshttps://www.worldoil.com/news/2020/3/20/opec-secretary-general-invites-texas-rrc-s-sitton-to-vienna-meetinghttps://www.bloomberg.com/news/articles/2020-03-20/why-a-texas-oil-regulator-could-play-the-role-of-opec-quicktakeCould the Texas governor declare a state of emergency and send in the national guard to enforce prorationing on oil companies? This is what happened in 1931 when companies did not adhere.Worst-case and best-case scenarios for oil demandhttps://www.investing.com/analysis/oil-demand-signals-15-best-and-worst-case-scenarios-to-watch-200517221