By Paul Sankey
Published on January 16, 2025 at 10:18 AM
Continuing on from our successful refining conference (Days 1 & 2) we are pedal-to-the-metal on oil markets, with an update required for the latest balances, which have been very dynamic over the past month. Winter, shadow fleet, China, tonight on Happy Hour bring on the barrel counter! Jan Stuart, Global Oil & Gas Economist: Johannes serves as global energy strategist at Piper Sandler. A self-described oil-geek, Stuart and his team take a micro-fundamentals approach to …
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By Paul Sankey
Published on November 14, 2024 at 8:04 AM
My standard line on the challenge as an analyst, is that you make a good call, and within three months everyone else starts saying it. Good calls can’t remain exclusive. Sure enough, today the IEA is out questioning whether China oil demand has peaked, making 2024 an epic (bearish) year in global oil market history. Yesterday I was reading an article from CGEP mooting the same call. We will come back to the subject Sunday, …
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By Paul Sankey
Published on January 13, 2024 at 11:41 AM
This year started with massive writedowns from both Chevron and ExxonMobil in California. You don’t need to read the all-time classic of industry literature, “Oil!”, by Upton Sinclair (nor watch the classic film “There Will Be Blood” which is based on the book) to know there is a long and storied history of oil in California. In this note we write brief histories that led to the write-downs. Spoiler alert, we start with the conclusions, …
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