I've looked around, and Zero Hedge seems to be the only one who noticed crude inventories were at a record high.
https://www.zerohedge.com/energy/wti-holds-losses-after-crude-distillates-builds
I had figured that would be the headline virtually everywhere..
Adios. Mexico suspends service contracts. Link here. Again, seems to be a big headline, small story.
Over the past several weeks, Petroleos Mexicanos has suspended contracts with at least eight local and international oil-service providers and suppliers to cut spending, said the people, who asked not to be named because they weren’t authorized to speak publicly on the matter. The bulk of cancellations is for offshore maintenance work in shallow-water hubs such as Ciudad del Carmen in the state of Campeche, two of the people said.
Two-year window. Hunch: the service industry, the health care industry, retailers, etc., are going to be bending over backwards for the next two years to do what it takes to bring back their old customers and attract new customers as they begin to recover from this pandemic.
The "Fed": "not even thinking about" raising interest rates for two more years, at least through the end of 2020 and probably through the end of 2021.
Major oil company to watch: OXY.
Disclaimer: this is not an investment site. Do not make any investment, financial, career, travel, job, or relationship decisions based on what you read here or think you may have read here.
The Doomsday Chronicles: during the Obama administration, some sectors of the US economy looked so bad, "the Doomsday chronicles" were needed to keep track of everything. We haven't seen many stories along this line, but I think it's just a matter of time. If so, along with the link above, this is where these stories will be tracked:
- Doomsday: The Big Box Store
- Doomsday: Public Sector Pensions
- Doomsday: US Cities
- Doomsday: US States
