"You Can't Jawbone a Physical Oversupplied Market"
Oil has been front and center this past week, and in spite of a historic production cut from OPEC+ and other G20 countries, prices have again dipped their heads below $20 a barrel. Warren Pies, chief energy strategist at Ned Davis Research, has returned to help viewers separate the signal from the incessant noise. Pies reiterates that it is in fact COVID-19 related demand disruption that is the driving force for low oil prices and not a price war. He also explains why talk is cheap in a physical market like oil and provides a roadmap for investing in the post crisis recovery.