Debt Destroys A Shale Giant

1. Gasoline demand rebounds, jet fuel stays down- In the U.S., demand for petroleum products plunged by 7 mb/d between March and April. - Since then, demand has bounced back by 4 mb/d, according to Bank of America Merrill Lynch. Refiners initially shifted production mixes to relatively more diesel and less gasoline. - But because the rebound is concentrated in gasoline, as millions of people returned to driving and shunned mass transit, refiners will have to switch back. - “This surge in demand, coupled with aforementioned yield shifts have…