Dan Pickering, founder and chief investment officer of Pickering Energy Partners LP, may have summed it up best when he tweeted as the second quarter began: “Toughest three months of the decade coming up. Sigh.”

The double whammy of the COVID- 19 pandemic and an ill-timed oil price war between Saudi Arabia and Russia virtually embodies a “black swan,” which Investopedia defines as “an unpredictable event that is beyond what is normally expected of a situation and has potentially severe consequences.”

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