My Sentiments Exactly -- June 7, 2020

Op-ed from  Bloomberg: Saudi Arabia lays down the law.

Calling out OPEC's laggards may help rescue the group's reputation. LOL

From the linked article:

Saudi Arabia called out the cheats at yesterday’s OPEC meeting — the countries that hadn’t fully reduced oil output in May as agreed — and extracted promises that they would compensate with even deeper reductions in the third quarter. Now the kingdom faces the group’s perennial problem of enforcing those promises.

The meetings of the Organization of Petroleum Exporting Countries and the bigger OPEC+ group, which includes Russia and nine other countries, were the shortest and least controversial since the latter collective was formed in 2016. It’s not that there was no drama; it just all took place in the days before the virtual gatherings.

The drama centered around the failure of key countries to make all the output cuts they had promised ....

When the May production estimates started coming in, however, it became abundantly clear that several countries hadn’t fulfilled their promises. That’s not unusual — but what followed was.

Saudi Arabia was done turning a blind eye to the cheats....

Okay.

And I have a thousand acres of minerals in the Bakken.

 Much, much more at the linked article. 

Social media's response over on twitter:

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Scandinavia Corona Virus

This is just the most peculiar virus.  Link here.

The virus seems to "disappear" on the weekend.

From Friday to Saturday, the number of cases in Sweden dropped, 10-fold, from slightly over one thousand on Friday, to 114 on Saturday, June 6, 2020.

Likewise, the number of deaths due to the virus plummeted from 77 on Friday to a mere 17 on Saturday.

I suspect the number of cases and the number of new deaths will fall again today, Sunday, June 7, 2020, if history is any guide.