The world surplus could reach 20 million barrels per day (mb/d) in the next few weeks, threatening not only to top off storage tanks everywhere, but to crash prices even further and shut in oil production. The shutdown orders in the U.S. continue to multiply, confining tens of millions of people to their homes. Much of Western Europe remains on lockdown as well. The impact of this pandemic will only grow as the U.S. has failed to contain its spread. Cases are doubling every few days, and state governments are rushing to impose stay-at-home orders. The response is scattershot, much too late and still much too permissive to stop the spread. But large-scale home isolation is now the only option to mitigate the damage. “Developments over the past week in terms of the spread of the coronavirus in the US and in the policy response to it, imply to […]