And It’s Only Monday!

Yesterday, I was posting stories about the Saudi decision to pump more oil and adjust its pricing. This morning, the price of oil had fallen by around 25% and could be headed lower. Crude was already under pressure as a result of lower demand because of coronavirus and flagging economies – especially in Asia and Europe. The lack of an OPEC plus agreement though was widely viewed as signaling a price war on top of that. What impact will this have on US shale production? How low can oil go? There are many questions that are difficult to answer at this point. Coronavirus is big news. While the flu is ravaging entire nations like the US where 34 million have had the disease and over 18,000 died from it so far this flu season, it seems that Coronavirus creates more fear – possibly because it is still an unknown to some extent. But it is the reaction to it as opposed to the virus itself that appears to be  causing the disruption at the moment. It is having an impact on everything from demand for commodities, to supply chains to how software firms conduct marketing. In some quarters, it is… continue reading
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