(The views and opinions expressed in this article are those of the attributed sources and do not necessarily reflect the position of Rigzone or the author.)
School districts across the United States are preparing for the start of a new term amid challenges presented by COVID-19. One of Rigzone’s regular market-watchers will be paying close attention to where instruction takes place – in school buildings or online. Find out why in this week’s installment of what to watch in the oil market.
Tom Seng, Director – School of Energy Economics, Policy and Commerce, University of Tulsa’s Collins College of Business: We will be watching for reports of just how much output was actually increased by the OPEC+ group on Aug. 1. Additionally, the traditional summer driving season will end in four weeks while gasoline inventories now stand at eight percent above the five-year average for this time of year and crude inventories are at 15 percent above the five-year average. If schools do not reopen – and stay open – there will be further deterioration of gasoline and diesel (buses) demand.
Barani Krishnan, Senior Commodities Analyst at Investing.com: More breakdown in logic between the situation on the ground and the numbers coming out of the U.S. Energy Information Administration (EIA). (EDITOR’S NOTE: Read Krishnan’s comments from last Friday for context on the EIA data.)
To contact the author, email mveazey@rigzone.com.
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