S&P 5004591.67+53.24+1.17%

Nasdaq15225.15+139.68+0.93%

VIX23.86-3.32-12.21%

DXY96.41+0.12+0.12%

CO74.56+0.98+1.33%

WTI71.19+1.43+2.05%

NATTY3.74+0.058+1.57%

Quote of the day:
The color of springtime is in the flowers; the color of winter is in the imagination – Terri Guillemets

Commodities Non-Oil
Paul Sankey

Sunday Houston? Problem.

Heading to the World Petroleum Congress in Houston today, a couple of players have cancelled participation. My understanding is that Qatari Minister is out, so is BP CEO Bernard Looney. Omicron. We shall see the final count, but I look forward to seeing a raft of CEOs over the coming four days before heading to Midland to write a focus on Diamondback, $FANG, one of the best players in the Permian, known for its outstanding

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Commodities Non-Oil
Paul Sankey

Saturday Warning: Crypto/Bitcoin

Warning: this note is about Bitcoin/cryptocurrency thematically. Because you opened the email and may not wish to continue, here is a bonus non-crypto chart. Again, sick of crypto this weekend? Stop reading now. Bitcoin will not be considered again for a while; we covered it bullishly a little last year, then got bearish as noted below around Q1 this year. I’m off to Houston, hope to get you a Sunday Sankey before leaving. If not,

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Morning Sankey
Paul Sankey

Friday: OPEC meeting continues

So the December 2021 OPEC did not end. But the working decision was to increase production. Having not met the previous decision to increase production. OPEC+ also decided to continue to require those that had exceeded previous quotas, should still have to cut back to make up for excess production previously, with lack of production currently. Yep, it’s a mess, and in this note I publish a table that tries to make sense of it

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