Crude oil demand has collapsed due to worldwide shutdowns for COVID-19, but signs of recovery are here. Storage facilities are still near full, yet we know the situation is balancing from producer shut-ins because futures are rebounding. From the historic negative price close in May, we are now in the roaring 20's. Not enough to declare victory for any producer, but enough to explore opportunities. California oil producers present an interesting opportunity as both favorable for recovery from COVID-19 and for oil pricing.
California will be the first to see oil demand return
California was