Friday: OPEC meeting continues

By Paul Sankey Published on December 3, 2021 at 9:03 AM

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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Morning Iran

By Paul Sankey Published on November 23, 2021 at 9:08 AM

The two top topics besides Jerome Powell being re-appointed yesterday, many are saying, including a major client yesterday, that it all feels so 1999, and the NASDAQ was down -1% on higher interest rates by day end, with many story tech stocks at crazed valuations now in the -50%+ correction territory, see list at end). Strategic Petroleum Reserves co-ordinated release (China, India, Japan, South Korea) expected today, just announced. Response? “The Fed can’t print more […]

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Sunday Bets

By Paul Sankey Published on November 21, 2021 at 3:55 PM

Presentation today, and commentary below: Thursday evening annoucement: major sellside meeting by ExxonMobil: “updates to their company plan” on Wednesday December 1st. Sellside invited. Virtual. Big deal for ExxonMobil. We had pondered how ExxonMobil would manage their annual capex announcement, due in December, vs their traditional strategy update due next March. We pondered if plans would be ready in time for a December update, given the scale of board and management change that has occurred […]

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