“Two boys are in a closed garage with
several inches of gasoline on the floor. One has six large matches, the
other has seven smaller ones. They debate as to who is strategically
superior”. J.K. Galbraith
The world’s oil markets are at a crisis point arguably not seen in its history.
Since
the last meeting of OPEC/OPEC+ concluded, global oil prices have
collapsed to close Friday at 53.14% down for WTI and 51.14% down for
Brent. These prices are the lowest seen in almost twenty years. Oil
prices have tumbled as the fallout of that meeting compounded the
unprecedented hit to consumption from the coronavirus pandemic.
https://oilprice.com/Energy/Energy-General/Oil-Markets-Are-On-The-Brink-Of-Armageddon.html
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