Energy

U..K. Prime Minister Boris Johnson announced a second national lockdown for England late Saturday, following France and Germany’s imposition of new restrictions in response to surging Covid-19 infections.
Despite reducing global inventories and improving demand, OPEC plus will have to stay the course as Covid makes a comeback. If the shutdowns expand, they may have to find a way to make additional cuts.
Shutdowns in Europe and more restrictions in U.S. cities and states are raising fears about another wave of oil demand destruction.
The API reported a considerable hurricane shutdown that inspired a crude build of +4.577 million barrels with a Cushing, Oklahoma increase of 136.000 barrels.
OPEC+ says it will do what is necessary to balance the global oil market but stopped short of making any firm commitments to extending production cuts.
Yet again, another potential hurricane is on track to take another direct hit on U.S. refinery row. Tropical Storm Zeta is setting its sites on the same path as Hurricane Laura and Delta, assuring more confusion and potential damage to the U.S. Energy Industry. 
Crude oil prices took a hit after the Energy Information Administration (EIA) reported gasoline and oil demand seems to be standing still. Do those numbers matter when it is clear that Hurricane Delta heavily impacted the data?
Oil is starting to struggle. We still have no deal on a stimulus package, but the main reason that oil is struggling is because the API defied the whispers and dared report a 584,000 barrel crude oil supply build.
Last year, U.S. consumption of renewable energy reached a record 11.5 quadrillion British thermal units (Btu), or 11 percent of total U.S. energy consumption, the EIA has estimated.
OPEC+ says it will do what is necessary to balance the global oil market but stopped short of making any firm commitments to extending production cuts.