Upward movement of the chart.

[Amanda Lamar Vieira + 1]

Have you noticed the surge in the market these few days due to increase in demand. One can say the green leaves are shooting out after the fall of the dried ones.

[El Nikko + 2,145]

I'm not sure we should get too excited, it seems more to be driven by sentiment. The glut is still there and it will take a long time to use up the excess oil in storage but the sooner this lockdown ends the better it will be for oil.

I don't think we'll see drilling activity pick up for a long time, maybe even the end of the year or next year.

The only positive I can see is the reduction in CAPEX, lack of exploration adn development and potential damage to some reservoirs from being shut in could lead to a crunch in a year or two and possibly much higher prices.

There will also be the challenge of a lack of experienced people as new graduates go into something other than oil, people changing career paths and also those who retire.

Fingers crossed but my LinkedIn is flooded with stories of people being laid off and walking away from the oil patch at the moment.