"All parts of the Model 3 production system are now above 500 and some are almost at 700 cars already. Congratulations to all on making so much progress! That said, radical improvements are still needed..."
Oil prices are in a holding pattern as we await the outcome of the OPEC+ meeting in a few days, and while the result of that meeting will almost completely control the direction of oil prices in the near-term, there is a bit of disagreement among analysts over the bigger picture in regards to the trajectory of oil prices going forward.
The Permania has begun to take its toll on all those investors that saw it as the next huge thing. With production booming, pipeline capacity has become tight, and producers are forced to sell their crude at a painful discount to benchmarks.
"..., it appears that this dangerous and potentially explosive period - from 2018 - 2020 - is beginning ‘with a bang’. But, I do think they are only the ‘opening act’. That is NOT said to be sensational or alarmist. It is just an attempt to convey some very natural and very consistent cycles that might normally be overlooked."
Venezuela might have to declare force majeure on its oil exports as production plunges and its ports are unable to ship enough crude. The ongoing meltdown in Venezuela’s oil sector could tighten the oil market more than expected.