Pessimism has returned to oil markets, with Brent testing the $60-per-barrel threshold. Friday, January 24th, 2020 WTI fell below $55 per barrel in early trading on Friday, and Brent was testing the $60-per-barrel threshold. Pessimism is back, and there is a danger of prices sliding further. Saudi Arabia says “all options are open” at March meeting . Saudi energy minister said that all options are on the table for the March meeting, hinting at further production cuts to head off another market meltdown. EIA: Drilling slowing . The latest EIA Drilling Productivity Report estimates oil production growth of just 22,000 bpd in February, a much slower pace than usual. Production gains of 45,000 bpd in the Permian are to be offset by declines of 16,000 bpd in the […]