Amusingly, Saudi Aramco made repeated references to COVID-19 in its results but was a little more coy in mentioning its starring role in the short, nasty and brutish price war it launched in March against its frenemy Russia.
Net income fell to $US16.6 billion from $US22.2 billion at the same time last year – and that was on a realised crude oil price of $US51.80 a barrel.Wells idled in North Dakota, dated April 16, 2020:
State Mineral Resources Director Lynn Helms said Tuesday that companies have shut 4,600 wells since the start of March. The idled wells account of about 260,000 barrels per day of oil, The Bismarck Tribune reported.Director's Cut, March, 2020, data posted today.
The Permian:
