A Brutal Earnings Season

COVID Market Update Lackluster short-term oil demand is still holding oil benchmarks back and creating a mountain of headaches for oil companies that require higher prices to break even. Despite cheap crude that would otherwise be attractive to major importers, major flooding in China this week (in an industrial-heavy area no less) is threatening to sap demand from the world’s largest oil importer. The world’s third-largest oil importer, India, is also scaling back purchases of cheap crude, sinking to 10-year lows in June as its refineries…