Jet Fuel and Diesel
wolfstreet.com/2020/05/01/...-and-diesel-in-the-us-in-charts/
On Thursday, Texas-based shale-driller Concho Resources reported a quarterly loss of $9.3 billion, after writing down the value of its oil and gas assets by $12.6 billion.
Also on Thursday, it was reported that Oklahoma-based Chesapeake Energy, a pioneer in shale-drilling, was preparing to file for bankruptcy (what’s taking so long?).
Still on Thursday, Royal Dutch Shell shocked the markets when it announced that it would reduce its dividend for the first time since 1945
Earlier in April, among the oil companies that have already filed for bankruptcy, were two high-profile oil drillers, Whiting Petroleum and Diamond Offshore Drilling.
aber die Longs auf Brent und der WTI June steigen wegen weiterer Einsparungen und still gelegter Rigs
www.barchart.com/story/futures/quotes/...s-and-fewer-oil-rigs
Chevron on Friday said it will shut down 400,000 bpd of crude production and retire 60% of the oil drilling rigs that it has under lease. Also, ExxonMobil said Friday that it will cut 100,000 bpd of its crude output. ConocoPhillips on Thursday announced that it will cut production by 420,000 bpd cut effective in June.
Friday's Baker Hughes report was bullish for crude as it showed that the international oil rig count in April fell by -450 rigs to 1,514 rigs and that drillers outside of North America closed 144 rigs in April, the most ever. Friday's U.S. Baker Hughes weekly rig report was supportive as it showed active U.S. active oil rigs fell by -53 rigs in the week ended May 1 to a 3-3/4 year low of 325 rigs....
Comments by Dallas Fed President Kaplan on Friday were supportive for crude oil prices when he said he sees U.S. crude oil output declining into next year and that it won't rebound until 2022.