The Financial Collapse of 2001 Unwinding Message Board

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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding

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To: robert b furman who wrote (5809)	7/10/2020 10:36:54 AM
From: elmatador	Read Replies (1) of 13801

Hi Bob ! In a little-noticed report, JPMorgan Chase warned in early March that the oil market could be on the cusp of a "supercycle" that sends Brent crude skyrocketing as high as $190 a barrel in 2025. Weeks later, the coronavirus pandemic set off an epic collapse in oil prices as demand imploded. And yet the bank is doubling down on its bullish view. Brent hit a two-decade low of $15.98 a barrel in April. US crude crashed below zero for the first time ever, bottoming at negative $40 a barrel. ... A huge amount of supply has been taken offline and the industry could have major trouble attracting future capital. ... So oil producers slashed supply. But now the pendulum in the boom-to-bust oil industry could swing too far in the opposite direction. edition.cnn.com

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