storage – Global Energy Comment

Europe’s Energy Crisis

I recently did an interview with the Baku Tribune on the current energy crisis and related issues. I thought it might be interesting to post this here given that the crisis seems unlikely to be resolved in the near future. Q: What is the outlook for the G7’s proposed price cap? First of all, weContinue reading “Europe’s Energy Crisis”

After oil at -$40, what next?

Last Monday we warned that oil prices could turn negative. That evening they did just that, with the main US domestic grade WTI trading as low as -$40/bbl for the May contract (sellers were paying buyers to take the oil). There were very specific circumstances surrounding that price move: the May contract was expiring thatContinue reading “After oil at -$40, what next?”

Oil price crisis intensifies

We said last week that lower oil prices were inevitable. We based that assessment on the ongoing mismatch between collapsing demand (forecast to have fallen by between 25-30 mbd) and supply cuts (of just 9.7 mbd) which have not even been implemented yet. The OPEC+ agreement falls short of what needed to be done andContinue reading “Oil price crisis intensifies”