The question on oil is simple: demand has dropped by 30 million barrels / day & inventories are overflowing. If production is cut by 10 million it will not reverse the price trend. The drop in production reflects the lack of capacity to store more.
On the same topic
From Today to Tomorrow – January 14 – The matter of public debt
Swiftly expanding public debt to support macroeconomic adjustment is entirely warranted to tackle the pandemic, and this process is facilitated by mammoth intervention from the central banks. Meanwhile, low interest…
From Today to Tomorrow – January 11 – Best wishes for a happy and healthy new year in 2021 – Forthcoming trends
I wish you all a very happy and healthy new year. May you and your loved ones start the year ahead in the best possible circumstances. This year is set…
From Today to Tomorrow – December 22 – The three ruptures of the health crisis – We must rebuild the economy
The health crisis was a life-size experience. As a result of active economic policies, economies have been resilient. But three ruptures will change the economy of tomorrow.The first is the…