The World Has Too Many Oil Refineries

At the start of the global pandemic in March, refineries around the world had to cut back on processing amid collapsing demand. However, there is a structural problem underway in the downstream sector – a wave of overbuilding has led to too much refining capacity, a problem that could linger for years.  Refining processing fell by 8 million barrels ...

Source: Oilprice.com

U.S. Shale Isn’t Losing Sleep Over The 2020 Elections

The battle lines are already drawn in a high-stakes political contest that will ostensibly determine the fate of the American shale industry. On the blue corner is former VP Joe Biden, who has not only pledged to steer the U.S. to a net-zero carbon emissions status by 2050 but is also hell-bent on stopping key oil and gas projects ...

Source: Oilprice.com