RE:RE:Oil could see a retestWith or without an oil production cuts agreement, oil production will fall because global demand has tanked. An oil production cuts agreement reassures the market that, once economic activity rebounds and oil demand rises, oil producers will not continue the prior oversupply trend. In the short term (after initial euphoria that an oil production cuts agreement has been reached),
and presuming that the coronavirus (COVID-19) pandemic's impact is not yet improving, oil prices will fall from their "agreement-euphoria" peak as demand remains weak. So too will oil stocks should the price of oil not be high enough for companies to return to profitability or at least an expectation of profitability in the relatively near term.
nowayjose wrote: Without a market, oil just goes into storage, which is nearly full, then what ..................................
nowayjose wrote: https://oilprice.com/Energy/Energy-General/What-Really-Caused-Oil-To-Rally-By-25.html