YGRN - How Will Oil Production Shut-Ins Impact Midstream?

In response to the dramatic decline in oil demand stemming from the COVID-19 pandemic and the resulting price weakness, global oil supply is expected to fall significantly this month, as OPEC+ cuts took effect May 1. Some producers began implementing production cuts early, and Saudi Arabia has announced an additional cut of 1 million barrels per day (MMBpd) for June. The International Energy Agency ((IEA)) is forecasting global oil supply to fall by 12 MMBpd to a nine-year low of 88 MMBpd in May. While the agreement between OPEC and its allies to cut production

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