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Wednesday, November 10, 2021

Re: Crude Oil -- Two Big Stories To Follow -- November 10, 2021

1. Handful of US senators want Brandon to ban US crude oil exports. I don't know how that would play out for US shale producers, but it would play right into the hands of OPEC+ sending global prices sky-high. Would WTI and Brent / Saudi OSP diverge? I think $60 oil in the US and $200 oil in Germany would be just about right.

2. OPEC crude embargo lite. Prince MBS playing chess against a US president in his eighth decade of life.

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