This week the near term price for
crude oil fell to -$37.68 per barrel. This was driven by the expiration
of the May futures contract on the 21st of April and holders not wanting to take physical delivery of a 1,000 barrels of the commodity.
The world presently is ‘swimming’ in oil
as we all know by now. For an ‘oilie,’ like me, it was just another
fairly depressing day watching the industry in which I spent my working
life implode. To improve my mood I shifted my thoughts to re-grounding
in the overall thesis and direction I saw for oil in the future. Not the
far-flung future where the world will run on moonbeams and daffodils,
but just a short piece down the road. Perhaps two or three years. Are we
still going to need oil and gas?
https://oilprice.com/Energy/Crude-Oil/Shales-Decline-Will-Make-Way-For-The-Next-Big-Thing-in-Oil.html
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