Crude is starting to move down. Strength is weakening.
46/BOE seems unlikely and a lower probability outcome.
Depending on overall strategy this presents an opportunity for buy side to add to crude exposure at a discounted price.
Sell side will likely be pushing this if trend continues in order to prop it up.
I am curious as to what others think about the crude market in months to come.
Geopolitical factors seems rather irrelevant unless Iran deal is scrapped and Europe loses out on access to Iranian oil.
American intervention in Venezuela would increase supply on market as the inefficiency of PDVSA and the companies mismanagement has contributed to the decrease in production.
The crude extracted is incredibly difficult to refine as it is. Let ExxonMobil join the party.
46/BOE seems unlikely and a lower probability outcome.
Depending on overall strategy this presents an opportunity for buy side to add to crude exposure at a discounted price.
Sell side will likely be pushing this if trend continues in order to prop it up.
I am curious as to what others think about the crude market in months to come.
Geopolitical factors seems rather irrelevant unless Iran deal is scrapped and Europe loses out on access to Iranian oil.
American intervention in Venezuela would increase supply on market as the inefficiency of PDVSA and the companies mismanagement has contributed to the decrease in production.
The crude extracted is incredibly difficult to refine as it is. Let ExxonMobil join the party.