Tuesday, May 16, 2017

The Energy And Market Page, T+116 -- May 16, 2017; Peak Oil? What Peak Oil? USGS Releases Sprayberry Assessment

Observation: the narrative that OPEC and IEA are now pressing -- "re-balancing was almost achieved" in 1Q17 and OPEC and IEA are now suggesting re-balancing will accelerate in 2Q17 leading to supply constraints by the end of the year (2017). WTI is down at the moment (12:20 Central Time), again below $49.

Futures: looking good. Dow 30 futures up 40 points.

$60: in 2017? -- Rigzone. Wood Mackenzie -- based on survey of 170 industry professionals --
  • $50 - $60 in 2017
  • $60 - $80 in 2020 
  • the article does not specify, but it appears Wood Mackenzie is talking about Brent; WTI has been trending $$3 - $5 less
Sprayberry: USGS releases assessment. At this link, click on the graphic. A pdf will load. In light of "WannaCry" ransomware, proceed at your own risk.

Balanced? IEA suggests that "rebalancing" will accelerate now that "we"  have achieved "almost balanced" in 1Q17.

No comments:

Post a Comment