RE: US Oil cos start filling for bankruptcy1 Apr 2020 20:32
Of course, the weak demand caused by the coronavirus pandemic won't last forever.
Eventually, airlines will take to the air again and start buying jet fuel. American drivers will buy more gasoline as they get back to work.
But by that point the oil industry might not be producing as much oil as before because wells shut down. Today's oil glut may suddenly turn into tomorrow's oil scarcity, pushing prices "far above" $55 next year, Goldman Sachs commodities head Jeffrey Currie said.
"This will ultimately create an inflationary oil supply shock of historic proportions," Currie wrote.