As ongoing threats to oil tankers in the Strait of Hormuz drive petroleum prices to near-record highs, energy companies in West Texas are enjoying one windfall—and hoping to take advantage of another.
In a report sent to Rigzone recently by Natasha Kaneva, J.P. Morgan’s head of global commodities strategy, analysts at J.P. Morgan, including Kaneva, revealed that they were tracking increasing monthly global oil demand losses.
Curious Minds Corner
Why was crude oil once worthless goo used in 1800s medicine and cosmetics?
It was pitched as a cure-all for ailments like cancer and rheumatism, or refined into lubricants and ointments.