I have not analyzed the reasons for the drop in the oil price from $70 to $ 35 in six months, in spite of the geopolitical factors. with the massive attack on the Saudi oil installations, the killing of Qasimi Sulaimani, and the noise of war drums between Iran and the U.S.
In my opinion it is about the moving of a hospitalized patient with a grave illness into intensive care and emitting a daily medical report. Of course, the public listens to these reports but do not know the patient’s medical history that led him to be hospitalized.!
The patient is the World Petroleum Order!
The hospitalization was when Russia and the others formed the ” + ” with the aim of aiding themselves by joining OPEC.
OPEC + was born in an intensive care ward, because the Oil Order was failing!
If, when l says OPEC + in intensive therapy l do not refer to some 25 patients, they do not fit, it would have collapsed the intensive therapy’s capacity.
OPEC + is 2 patients: Saudi Arabia and Russia.
They faced the situation bravely…with the favors of Allah and the Orthodox Cross, and the patient’s health improved.
But they were not allowed to check out. They returned to another section of the hospital, under observation. The third main player, with clay feet, went on with America First…sanctions, black mailing, trade wars, threats, insults.
And out of the sky the PANDEMIC arrived. Peak Demand is now! Stranded assets…too many barrels could be lost forever.
Take out a billion of them…! Still have 250 billion more! But perhaps the big mouth with mind effect understands that now that who will have to go into intensive care is the parasitic part of his country’s oil industry!
There is no hospital system in the world that can house so many anemic patients.
At least, the cause of the imperfection in the World Petroleum Order has become known.