By Paul Sankey
Published on March 22, 2022 at 9:02 AM
Aramco’s full year 2021 results released Sunday (3/20/22) were more historic than perhaps the market appreciated. First, an announcement of a major increase in capex did not yield a major boost in oil supply, from a global perspective. Saudi capacity will rise just 1.5mb/d, exports 2.5mb/d by 2027. Second, an extraordinary statement from Saudi’s foreign ministry should give any observer of global markets pause for thought: Saudi Arabia said on Monday it would not bear […]
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By Paul Sankey
Published on March 20, 2022 at 2:35 PM
Extremely busy this weekend, juggling Patricia wanting to go spring-time walking dogs and window shopping in (packed) SoHo, and me wanting to solidly sit in front of the TV watching March Madness while making bets online. Somehow she does not see the appeal of watching seven games of college basketball back-to-back over seven hours. Of course, she wins. I did snag North Carolina to win it all at 50-1 BEFORE they beat #1 seed and […]
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By Paul Sankey
Published on March 17, 2022 at 8:41 AM
Tonight Strategy Session with Jan Stuart, Cornerstone Macro global energy economist, on oil markets. Zoom call, 5pm. Kathleen Kelley is busy, unfortunately for us, happy for her, she is hosting a St Patrick’s Day party. God Bless Ireland! My paternal grandmother was from Cork, Ivy Sankey (nee Jefford). We have an oil trader joining to ask questions. A real live, oil trader. In the early 1990s, Jan was my first colleague at the IEA in […]
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