By Paul Sankey
Published on August 23, 2022 at 9:54 AM
“The Saudi Put is back” wrote a client yesterday Could well be related to softening in Iran negotiations Certainly, it implies that Saudi wants, enjoys, needs, $100/bbl+ Brent Part of their calculus is a belief in strong demand despite $100/bbl+ this summer, with winter coming That is, the Saudis optimal price is as high as demand can take, and not so high as to cause demand destruction. This summer’s demand strength strongly suggests that range […]
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By Paul Sankey
Published on February 17, 2022 at 8:52 AM
Strategy Session tonight, Doomberg. New guest date to-be-confirmed, Florian Thaler CEO of oil analytics company Oilx. We spoke to him yesterday on the subject of… The potential impact of Iran on oil markets in 2022. It is very different from 2015. In this note we briefly explain why. Iraq production falls 160kb/d in January – covered in this note. Accusations of cross-border shelling in Eastern Ukraine. No further comment in the note, but you can […]
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By Paul Sankey
Published on January 27, 2022 at 9:11 AM
Tonight, Strategy Session with Jay Wilson, Vice President, Hess Corporation. 5pm RSVP. You are not going to believe this: Valero beats. That would be the 17th straight quarter that Valero has beaten analysts’ estimates. Kudos to IR! It does beg the question of why would any company ever miss estimates? After all, Valero earnings since 2017 have hardly been a cake walk. This period includes COVID and the worst possible environment for a refiner. They […]
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