Episode 102 - Oil storage | Is shale dead? | Russia | Traders not buying Saudi oil

Published: March 31, 2020, 5:45 a.m.

b'Global oil storage fills to the brim despite leap in costs
https://www.reuters.com/article/global-oil-storage/global-oil-storage-fills-to-the-brim-despite-leap-in-costs-idUSL8N2BH3AM
.9-1.8 billion barrels of spare storage in the world
Are we really running out of oil storage space NOW?

Sinopec reporting profit of $57.5 renminbi and increased dividend

The World Is Running Out of Places to Store Its Oil
https://www.nytimes.com/2020/03/26/business/energy-environment/oil-storage.html
- Company called the Tank Tiger, which matches traders or refiners with oil with tank farm owners and people who will store it. Charges 1 cent per barrel

Is the shale industry dead?
- Not dead, but changed. Will be changed forever.
- Super-majors will be prime operators in shale patch

Is there a point at which Saudis and Russians have overplayed their hand?
- Rosneft pulled out of Venezuela, sold assets there to Kremlin
- Russia\\u2019s non-oil economy is being hit by Coronavirus so that push them towards a deal

As Saudis Shop Discounted Crude, Refiners Say \\u2018No Thanks\\u2019
https://www.wsj.com/articles/as-saudis-shop-discounted-crude-refiners-say-no-thanks-11585241955?reflink=share_mobilewebshare
- If Saudi Arabia can\\u2019t sell its oil in April that will be a turning point.
- Watch the 14 day oil report to see if they are moving that oil or not.

GOP senators urge Saudi Arabia to leave OPEC
https://thehill.com/policy/energy-environment/489666-gop-senators-urge-saudi-arabia-to-leave-opec
- Only by putting the relationship between Saudi Arabia and the US on the line can the US hope to pressure the Saudis to do anything.

Trump says he will speak with Putin to discuss oil market and trade
- mostly discussed Venezuela.

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