Sunday Sankey 4/4/21

By Paul Sankey Published on April 4, 2021 at 12:26 PM

Greetings on Easter Sunday, The oil market got excited at the end of the week with the OPEC decision, basically because the “Saudi Put” remains in place, with the tapering of OPEC and particularly Saudi cuts extended through July. While surprised at the scale of the bullish reaction, given that the market had anticipated a rollover of cuts, it has been notable that oil prices have held the $60/bbl range pretty firmly with a bouncing […]

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Morning Mood Swing 3/30/21

By Paul Sankey Published on March 30, 2021 at 8:26 AM

Get ready for a dump of April Fool’s Day OPEC jokes as the Organisation meets formally this week, culminating on Thursday April 1st. Rollover is seen as the most likely outcome, which would be for April, Saudi extending its market control, with recent volatility in oil prices – ie downside moves – seen as the key concern. It’s a never-ending wonder trying to forecast oil markets, and now to be in new era. Here, we […]

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Sunday Sankey 3/7/21

By Paul Sankey Published on March 7, 2021 at 12:19 PM

This past week saw the worst market for US crude since modern records begin in 1990. We saw the lowest US domestic crude oil demand in thirty years or more. Who would have known it from the oil price action and oil market mood? Right when the scale of the Texas crisis hit, in terms of lost power, I was writing to you and on Bloomberg TV saying that this is a full-scale national crisis, […]

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