Episode 126 - Trump is up and so is oil | Exxon smeared by Bloomberg | Saudi's planning for $50 oil?

Published: Oct. 6, 2020, 5:05 a.m.

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Oil rebounds on Trump health update, Norway shutdowns
https://www.cnbc.com/2020/10/05/oil-markets-donald-trump-coronavirus.html
- probably related more to stability/instability than Trump being diagnosed with a virus that the vast, vast majority of people survive
- Oil is mirroring the stock market
- Libya and Norway oil cancel each other out
- Libyan oil will impact OPEC\\u2019s overall numbers

Exxon\\u2019s Plan for Surging Carbon Emissions Revealed in Leaked Documents
https://finance.yahoo.com/news/exxon-plan-surging-carbon-emissions-090019610.html
- Exxon isn\\u2019t actually planning to increase emissions in a nefarious way, its documents just show that the company forecasts that its emissions will rise as it expands it business.
- Basically, Exxon is continuing to expand its business but BP and Shell are abandoning the fossil fuel business wholesale

Exxon to cut 1,600 jobs across Europe as oil rout weighs
https://uk.reuters.com/article/uk-exxon-mobil-layoffs/exxon-to-cut-1600-jobs-across-europe-as-oil-rout-weighs-idUKKBN26Q276

Equinor shuts in four North Sea fields on strike action
https://www.argusmedia.com/en/news/2147112-equinor-shuts-in-four-north-sea-fields-on-strike-action
- strike because workers want more pay
- If this was West Texas, It would be easy to replace them

Column: Hedge funds resume oil sales
https://www.reuters.com/article/oil-global-kemp/column-hedge-funds-resume-oil-sales-kemp-idUKL8N2GW30U
- Hedge funds more bearish now

Asia\'s jet fuel margins hit 2-month highs on warmer demand for kerosene before winter
www.reuters.com/article/asia-oil-jetfuel/refile-asias-jet-fuel-margins-hit-2-month-highs-on-warmer-demand-for-kerosene-before-winter-idUSL4N2GW15H

Saudi Arabia\\u2019s budget based on $50 oil, Goldman Sachs estimates
https://www.worldoil.com/news/2020/10/5/saudi-arabia-s-budget-based-on-50-oil-goldman-sachs-estimates
- Analysis is that oil will $50/barrel
- Is that at all likely?

https://www.forbes.com/sites/ellenrwald/2020/10/02/oil-prices-are-waiting-to-rise-but-stimulus-will-not-be-the-cure/

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