In Other News – April 24, 2020
Oil prices in the U.S. turned negative this week, signaling the depth of the demand shock caused by the Great Lockdown. While prices ticked up again yesterday, partly on news that raised the risk of U.S.-Iran conflict in the Middle East (see below), there remains a real possibility that prices will go negative again as […]
In Other News – April 17, 2020
The International Monetary Fund forecast in its April 2020 World Economic Outlook that global GDP will shrink by 3% this year, the worst contraction since the Great Depression. Dubbing this period the “Great Lockdown”, the IMF said this downturn will be far more serious than the one that followed the 2008 financial crisis, which resulted […]
In Other News – April 10, 2020
Mexico was the lone holdout yesterday on an OPEC+ deal to collectively cut oil production by 10 million barrels a day (b/d) in May and June to stabilize oil prices, and today says it reached a production cut deal with President Trump whereby the US would compensate for a portion of the cuts that Mexico […]
In Other News – April 3, 2020
President Trump issued a warning (via twitter) to Iranian-backed private militias in Iraq that they will “pay a very heavy price” for carrying out a planned “sneak attack” on U.S. interests in the country. He later indicated in a press briefing that the U.S. is open to a deal with Iran, but that it is […]
