Publications: Notes at the Margin

Coronavirus Defeats Oil Producers (February 10, 2020)


Saudi oil minister Prince Abdulaziz bin Salman wins an "A+" for understanding the new oil market and an "E" for effort. Sadly, from the perspective of those seeking higher prices, he failed last week. The consequence will be lower oil prices, perhaps much lower. A possible peace agreement that could restore Libyan production and a temporary suspension of Chinese stock building could make matters far worse. The ultimate losers might be oil-exporting countries and some independent US producers. US energy independence may also fall victim. Consumers and bankruptcy attorneys will be the big winners.


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