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Flight traffic down 70% in Europe and this during a time when airlines have less flight slots with passengers who would be generally flying on essential business.
https://www.tellerreport.com/news/2020-03-31---halved-exhaust-emissions-since-the-corona-eruption-.S1ZLVbfZwU.html
That IEA oil report was written on the 9th March so I would say it's way out of date.
Aviation fuel alone accounts for approx 2% if they got back to 50% of capacity that would be a reduction of 1 million barrels a day and that's if people are up for flying or allowed to, filling in health questionnaires, temp checks and the rest.
Freedom of movement is going to be restricted even to Cornwall - good,they can keep it.
i'm thinking the DOW is a good short from here...
Theos, i agree but many are folding, Shale had a great run. Russia will not play ball, Trump will have to apply fee's....
... and the rest of the planet dies of the next virus they export
US comeuppance for the sanctions imposed on Russia....
Russia will take Shale out...
John46, that Rail link had been discussed back in 2009, also they, the Chinese, wanted a link to Cananda..
https://en.wikipedia.org/wiki/Bering_Strait_crossing
John, they spoke of the rail link back in 2009, also they, the Chinese, wanted one from Canada....
That proposed high speed line seems value for money. Our HS2 is twice the cost and 5% of the length!!!!!!
"China and Russia are considering building a high-speed rail line thousands of kilometres from Moscow to Beijing that would cut the journey time from six days on the celebrated Trans-Siberian to two, Chinese media reported Friday.
The project would cost more than $230 billion and be over 7,000 kilometres (4,350 miles) long, the Beijing Times reported -- more than three times the world's current longest high-speed line, from the Chinese capital to the southern city of Guangzhou."
https://www.businessinsider.com/afp-china-russia-mull-high-speed-moscow-beijing-rail-line-report-2014-10
Russians paying in Crude , they're not bothered on crude prices , they can always ramp up production , to the second biggest market in world . Russians won't blink !! Saudis are stuck , we need to get used to lower crude for longer .
yes although can apply fee's, storage is a problem for US ..
Russia want to break Shale, so i don't see a deal and Trump will have to apply fee's....
With current consumption levels at lows, even a 10mbpd production cut will not reduce global oil inventories.
The Russians are better placed than the Saudis and Americans to ride this out.
That meeting has been postponed till Thursday.
Global oil storage facilities are almost full whilst Russia unlike Saudi does not have a dollar peg. I wouldn’t bank on a recovery in the oil price anytime soon......
The markets are looking towards the cease fire of the Oil Wars...
Which to be honest the President and only the President without consultation can add a fee to stop the Oil War, he has even said he will do it but i think he needs OPEC to do a deal.
the answer is simple enough....
https://oilprice.com/Energy/Energy-General/The-Cheapest-Way-For-Trump-To-Save-US-Oil.html
ERV1, DOW almost 4% up based on what exactly...? OPEC meeting? C-19 Topping out..Unemployment rising..?
the markets look to the future and all this is priced in..?
ERV1, DOW almost 4% up based on what exactly...? OPEC meeting? C-19 T
what bad feeling?
+600 and climbing...
more green in the global markets at the moment....
I've got a bad feeling about this...
DOW +400 points up...crazy.
OIL PRICE CRASH
On bloomberg, for the ftse's baker hughes....the rig counts has fallen off a cliff.
cant see the rise lasting , WTI downed 10% at Asia open as OPEC+ meeting pushed backed.
DOW will more than likely go down on this news, small Gap Up will probably get filled...
Earlier the meeting to discuss the oil output cuts was scheduled for April 6. However, the Reuters sources reported over the weekend that it is now postponed to April 9, allowing more non -OPEC producers, including the US, Norway and Canada, to come on board and join in the production cuts to stem the price declines, the wake of the coronavirus pandemic induces demand concerns..
..up