Miscellaneous
Oil Prices Slump as Crude Storage Shortage Intensifieshttps://www.wsj.com/amp/articles/oil-prices-slump-as-crude-storage-shortage-intensifies-11587382034U.S. oil falls more than 10% to lows not seen since 1999https://www.reuters.com/article/us-global-oil/u-s-oil-falls-more-than-10-to-lows-not-seen-since-1999-idUSKBN2210V9Why Oil Is $11 a Barrel Now but Three Times That in Autumnhttps://www.wsj.com/articles/why-oil-is-11-a-barrel-now-but-three-times-that-in-autumn-11587392745- WTI contract for May is about to expire and no one wants to buy so its basically fallen to pennies- But will demand actually go up even when the economy restarts? Will people be willing to go out?- regional variance? Saudi oil official refutes claim that crude exports to the US rose last monthhttps://www.cnbc.com/amp/2020/04/17/saudi-arabias-oil-exports-to-us-skyrocketed-amid-coronavirus-lockdowns.html?Oil War And Peace: A Russian-Saudi Standoff Is Over -- At What Cost To The Kremlin?https://www.rferl.org/a/russia-saudi-standoff-oil-war-peace-kremlin-cost/30557642.htmlBiggest Oil ETF Shakes Up Structurehttps://www.etf.com/sections/features-and-news/biggest-oil-etf-shakes-structure?nopaging=1Railroad Commission of Texas Considers Oil Production Cutshttps://www.natlawreview.com/article/railroad-commission-texas-considers-oil-production-cuts- Will they prorate?- Sense from the hearing is that prorating isn’t going to happen because implementation is too difficult and the market implications would be harmful in the long run.- Physical waste vs. ergonomic waste- What would Exxon do? Could argue that what they produce isn’t actually oil.