CERRA WEEK in Houston this week cancelled. . . . Oil futures dropped 3.2% premarket but rebounded on Putin hint Russia may cooperate with OPEC+ cuts at meeting this week. They hope it puts a floor under pricing. I doubt it holds very long.

[BLA + 1,666]

OPEC+ deal will halt price decline temporarily as shorts will cover and take a nice profit. Decline resumes after short-lived reprieve post OPEC meeting.

OPEC +  may cancel actual face to face meeting and teleconference instead.

Hopefully some good news from the viral experts.  Doesn't look like any good news coming soon.  Still much unknown about the virus.  I hear China/CCP still not fully cooperating. No transparency. 

CHINA PMI dropped from January 50 to a February PMI 35.  Ouch !

CDC thinks they traced origin of virus that accounted for first U.S. death in Washington State.

China reported only 42 new cases in HUBEI Provence and zero deaths outside Hubei.  WHAT A JOKE. 

WHO Officials finally let into Wuhan BUT severely restricted on where they could go.  

Looks like no country's economy will escape the virus's effect. 

 

Edited March 2, 2020 by BLA