U.S. Gasoline Demand Collapsed 48% YoY, Trump Wants to Pay Drillers To Leave Oil in Ground?




from WallStForMainSt

More craziness in the oil “market.” Another day another bailout, but this time in oil?

U.S. Weighs Paying Drillers to Leave Oil in Ground Amid Glut https://finance.yahoo.com/news/u-weig…

Meanwhile, US gasoline demand had the largest collapse on record!

Coronavirus Has Wiped Out A Decade Of Oil Demand Growth https://oilprice.com/Energy/Crude-Oil…

‘Black April:’ IEA warns of ‘staggering’ demand drop in global oil markets https://fortune.com/2020/04/15/black-…

Crude oil breaks below $20 as IEA sees ‘staggering’ drop in global demand https://seekingalpha.com/news/3560774…

Today, WTI oil prices briefly dipped below $20/barrel for the first time in 18 years. Oil holding above $20 is not looking good for much longer.

Oil slides 6% as producer cuts fail to banish demand fears https://finance.yahoo.com/news/oil-ga…

Many Shale Companies Are Already On The Brink Of Bankruptcy https://oilprice.com/Energy/Energy-Ge…

Energy stocks suffer beatdown amid oil price weakness https://seekingalpha.com/news/3560916…

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