Miscellaneous
Global oil storage fills to the brim despite leap in costshttps://www.reuters.com/article/global-oil-storage/global-oil-storage-fills-to-the-brim-despite-leap-in-costs-idUSL8N2BH3AM.9-1.8 billion barrels of spare storage in the worldAre we really running out of oil storage space NOW?Sinopec reporting profit of $57.5 renminbi and increased dividendThe World Is Running Out of Places to Store Its Oilhttps://www.nytimes.com/2020/03/26/business/energy-environment/oil-storage.html- Company called the Tank Tiger, which matches traders or refiners with oil with tank farm owners and people who will store it. Charges 1 cent per barrelIs the shale industry dead?- Not dead, but changed. Will be changed forever. - Super-majors will be prime operators in shale patchIs there a point at which Saudis and Russians have overplayed their hand?- Rosneft pulled out of Venezuela, sold assets there to Kremlin- Russia’s non-oil economy is being hit by Coronavirus so that push them towards a dealAs Saudis Shop Discounted Crude, Refiners Say ‘No Thanks’https://www.wsj.com/articles/as-saudis-shop-discounted-crude-refiners-say-no-thanks-11585241955?reflink=share_mobilewebshare- If Saudi Arabia can’t sell its oil in April that will be a turning point.- Watch the 14 day oil report to see if they are moving that oil or not.GOP senators urge Saudi Arabia to leave OPEChttps://thehill.com/policy/energy-environment/489666-gop-senators-urge-saudi-arabia-to-leave-opec- Only by putting the relationship between Saudi Arabia and the US on the line can the US hope to pressure the Saudis to do anything.Trump says he will speak with Putin to discuss oil market and trade- mostly discussed Venezuela.