Oil production

Nordic American Tankers Emerges as Winner Amid COVID-19 Oil Glut

NAT Dividend Chart
  • As a result of the pandemic, oil demand cratered to levels we have not seen in decades.
  • Nordic American Tankers were given a golden opportunity.
  • The massive and growing crude glut has quickly filled onshore storage facilities to capacity.
  • The result has been a massive surge in demand for vessels to act as floating storage.
  • Nordic American operates a fleet of 23 Suezmax vessels.
  • Nordic American makes its money by moving crude oil from where it is produced to where it will be refined.
  • Nordic...

https://mfame.guru/nordic-american-tankers-emerges-as-winner-amid-covid-19-oil-glut/

Today’s Pickup: U.S. factories in limbo as Mexican production plants remain shut

U.S. factories in limbo as Mexican production plants remain shut (Photo: Shutterstock)

Good day,

The U.S. companies that are resuming production after roughly a month of lockdown are now contending with a shortage of parts supply from Mexico. This is because production plants across Mexico remain widely shut due to the pandemic. Mexico is the largest trading partner of the U.S. as of last year, and the country is a major exporter of auto parts to the U.S. 

The turn of events has put U.S. manufacturers in a spot because they cannot resume operations if their Mexican suppliers remain...

https://www.freightwaves.com/news/todays-pickup:-us-factories-in-limbo-as-mexican-production-plants-remain-shut

COVID19 Economic Collapse Staring at Oil Producing Nations!

According to an article published in Oilprice.com, a global upheaval is likely to result from the oil price crash, upending the current fragile balance of power because key oil-producing countries, including Iraq and Nigeria, can’t buy their way out of this crisis with near-zero-interest loans like the Saudis and Americans can.

Oil Producing Countries in Trouble
  • Even with Brent at $25 (indeed, even when it fell below $20), the Saudis were throwing around cash at all kinds of investments,...

http://mfame.guru/covid19-economic-collapse-staring-at-oil-producing-nations/

Possible mandated cut in Texas oil production ‘dead,’ chief backer says

A move this week by the state of Texas to mandate cuts in oil production is “dead” and won’t even be the subject of a vote by the state’s governing regulatory body, according to the regulator most closely aligned with the proposal.

In an interview with Bloomberg TV Monday morning, Ryan Sitton of the Texas Railroad Commission said the three-member TRC is not expected to take up his proposal that the commission use its authority to order production cutbacks in the state.

“At this point, we are...

https://s29755.pcdn.co/news/possible-mandated-cut-in-texas-oil-production-dead-chief-backer-says

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