ifs and buts were candy and nuts..
I think this at least shows even US isn't comfortable with oil prices remaining this low.
still, Trump meeting with CEOs of big companies in energy sector on Friday, will make it clear whether the plan is to give the energy sector a government bailout so they can survive the low prices until Iran government is completely bankrupt, or if the plan is to pull up prices to a point where even american companies can keep themselves floating during the covid-19 winter. (which I think would be around 35-40 price for WTI crude)
oversupply is still a big problem in the market with demand being as low as it is. so we shouldn't get excited about news like this one.
I think this at least shows even US isn't comfortable with oil prices remaining this low.
still, Trump meeting with CEOs of big companies in energy sector on Friday, will make it clear whether the plan is to give the energy sector a government bailout so they can survive the low prices until Iran government is completely bankrupt, or if the plan is to pull up prices to a point where even american companies can keep themselves floating during the covid-19 winter. (which I think would be around 35-40 price for WTI crude)
oversupply is still a big problem in the market with demand being as low as it is. so we shouldn't get excited about news like this one.
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