Note: I highlighted the 'Buy Crude Tankers' thesis in a fully public report on 13 March. I recommend reading that one for initial context.
Image Credit: DHT Holdings, Q4-19 Presentation
Background: COVID-19 Sparks Oil Oversupply
Coronavirus (COVID-19) descended with a fury upon global markets in March, driving unprecedented economic shutdowns. At the same time, OPEC and Russia failed to act in a responsible manner, instead trying to game the situation by flooding the markets with oil in the hopes of driving out US shale 'once and for all.' They opened Pandora's Box with this endeavor,