Historic Oil Price Crash Amid COVID-19 Pandemic
Apr22

Historic Oil Price Crash Amid COVID-19 Pandemic

By Esosa Aihie U.S. crude oil futures collapsed below $0 on Monday for the first time in history, amid a coronavirus-induced supply glut, ending the day at a stunning minus $37.63 a barrel as desperate traders paid to get rid of oil. Brent crude, the international benchmark, also slumped, but that contract was nowhere near as weak because more storage is available worldwide. As billions of people around the globe stay home to slow the...

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COVID-19 Robot?Helpers

Esosa Aihie Tally The coronavirus crisis has made real-time inventory information more important than ever. The robots are doing their best to help—in some areas at least. Improving supply chain management could unlock as much as $1 trillion value in retail. And that is simply by eliminating existing inefficiencies.  Optimizing supply chain management has emerged as one of the top priorities for grocery stores during the...

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COVID-19 NEWS: BONNY LIGHT TSUNAMI LOADING

By Patrick O. Okigbo III If you are a state governor in Nigeria and you are not already working round the clock, night and day, you are playing with fire.  Red-hot, napalm FIRE! Here is your reality.  Bonny Light (Nigeria’s crude oil) is trading at about $11. This is half the cost of producing the barrel. Even at that price, Nigeria is not able to sell her crude oil.  She has tens of millions of barrels...

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How to make sense of the coronavirus chaos

By Esosa Aihie We are beset on all sides, hourly, daily by COVID-19 data, hypotheses, speculation, & conspiracy theories. We live in a world in which news, often pops up on social media without any useful context or consideration, which we have to provide context. Learning how to do that is becoming one of the most crucial skills we need to make sense of what we read.  A good way to make sense is to distinguish between three...

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Impact of COVID-19 on the Air Industry

By Esosa Aihie The International Air Transport Association has warned that revenue from flying passengers could drop by nearly a third of a trillion dollars this year & that 25 million jobs are at risk.  Aircraft need plenty of work & attention while in storage. Prolonged storage has an impact on airworthiness. As a result, airlines scramble for proper storage facilities across the?  Challenges include: the fading of...

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