Oil Agreements Expire Soon

Take note, OPEC+ oil quotas agreed upon expire on April 1st, thus the true debacle in the oil industry will be seen until then. Russia and Saudi Arabia will increase considerably their output, crunching the shale industry to a tighter corner. If the trend is to be sustained, that would even mean layoffs in the sale industry. Beware that this situation may not last for long, it depends on the outcome of the current coronavirus outbreak, which will impact the US harshly, and on whether Saudi Arabia or Russia can stand for long.