I hate it when people do energy related articles that aren't loaded with graphs, or at least the key contextual numbers. Just to be of some use here are some:

I hate it when people do energy related articles that aren't loaded with graphs, or at least the key contextual numbers. Just to be of some use here are some: The overall oil market was just at or shy of 100 million barrels per day prior to covid19. As of early April we were down into the high 60-something million barrels per day. Roughly a full one third collapse in demand. US oil production reached a low of about 5Mbpd in 2010, and rose to last month (march) being 13Mbpd. That is overwhelmingly the fracking you hear about, specifically in the permian basin. As of last week that was already down 1Mbpd. The top 3 oil producers in the world are the US, Saudi Arabia, and Russia. SA and RU have been floating in the 9 - 11Mbpd range for the last few years, and just a few weeks prior to covid had decided to increase their production by ~2 - 3Mbpd each. So its very simple napkin math from there. Oil sands are effectively over until we have some kind of substantial long term recovery. At least half of fracking wells in the US are being shut off right now. If this covid crisis drags on for 2 - 3 years globally, and if the shift to wfh/tele-whatever gets advanced quicker than otherwise, and the airline industry doesn't return to its old levels for years and years... then there's every reason to think that oil sands are simply done and (most US) fracking wells will run out their existing investments and also be done.