Monday, March 30, 2020

Coronavirus News (20)

US extends social distancing to April 30 in hopes of avoiding 100,000 coronavirus deaths
Modi seeks 'forgiveness' from India's poor over COVID-19 lockdown Modi apologises as 21-day lockdown stings millions, leaving the poor hungry and forcing migrant workers to flee cities.
Pelosi on Trump's coronavirus response: 'As the President fiddles, people are dying'
Coronavirus updates: Trump extends shutdown, Fauci warns 200,000 could die
India says no plan to extend coronavirus lockdown as poor struggle
New Yorkers who break social distancing rules will now face fines up to $500



Oil prices fall to 17-year low as Saudi Arabia-Russia standoff continues, coronavirus hits demand
US crude oil price falls below $20 Fall in demand due to virus creates surplus that risks overwhelming storage capacity ..... traders bet production would have to shut to cope with the collapse in demand from the coronavirus pandemic. ..... The global oil industry is facing its biggest demand drop in history ....... While demand has collapsed, the supply of oil has also increased rapidly because of the price war between Saudi Arabia and Russia. Traders now believe the surplus could approach 25m barrels a day next month, a level that could overwhelm storage capacity worldwide within weeks. ......

“This is a historic oil price collapse, and it is not done yet as the system physically runs out of places to put all the oil”

...... “The pain in the shale patch is going to be severe. We will see production shut-ins accelerate.” ...... Higher cost producers such as US shale and Canadian tar sands are broadly unprofitable at these price levels ....... the US oil industry, which expanded in the last decade to make America the world's top oil producer, could contract as much as 2.5m b/d by the end of 2021, from around 13m b/d of crude output now ..... Refineries are cutting back on processing crude oil into fuel, and oil companies could start shutting down producing wells




Minnesotans worry as COVID-19 spreads to nursing homes
Trump extends federal social distancing guidelines to April 30
'Stealth Transmission' of COVID-19 Demands Widespread Mask Usage

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