Rusty, is it Hamm for Thanksgiving 2014 yet?

By Paul Sankey Published on June 4, 2024 at 9:56 AM

OPEC sets down a can, takes four steps back, runs up, and hoofs it towards 2025. We are looking for a huge summer for oil demand, given in May we had a major Asian heatwave, as part of a pattern whereby, if you think it is hot in Midland, Texas, spare a thought for Dhaka, Bangladesh. But our year-end 2023 video “When does Saudi have to flush the oil market?” garnered the most views of …

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Oil Earnings Results Post-Performance FWIW

By Paul Sankey Published on April 20, 2024 at 10:16 AM

A major client liked the chart we published last week, highlighting that Schlumberger has a pattern of under-performing quarterly earnings reports. Quod Errat Demonstrandum, as SLB under-performed on its results yesterday, despite a headline beat. All you can analyse is the margins, and guidance outlook change. They came in neutral to mildly negative on a stock that is relatively expensive. SLB was down -2.14% in a tape which saw the mighty energy sector XLE power …

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Morning Kinder, and Gentler Marchetti

By Paul Sankey Published on April 18, 2024 at 8:48 AM

<Brooklyn rap radio/Jamaica DJ horn> BBBRRRRAAAAP!: Tonight on Happy Hour, Tommy Marchetti. 4PM ET open mike. Plenty of chat as energy earnings started last night with Kinder and continue tomorrow with Schlumberger. Fresh from his four years at Cornerstone Macro then Piper Sandler as Global Energy Strategist, oil on Wall Street legend Tom Marchetti will be giving his stream of consciousness tonight. Starting as an accountant with KPMG, Marchetti joined J Aron/Goldman Sachs in 1994, …

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