Morning Saudi Did What?

By Paul Sankey Published on January 6, 2021 at 8:41 AM

Sankey raising Brent oil price forecast to $54/bbl for 2021 (from $45) and $58/bbl for 2022 (from $56). Sankey raising WTI oil price forecast to $52/bbl for 2021 (from $42) and $55/bbl for 2022 (unch). It’s difficult to unpack what just happened to oil markets in terms of Saudi Arabia’s shock move to unilaterally “gift” cut production by 1mb/d for February and March; right down to 8.1mb/d, the very low of their historic production levels. […]

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Where is oil as Laura hits? Morning Sankey 8/27/20

By Paul Sankey Published on August 27, 2020 at 8:35 AM

Corporate newsflow remains quiet, with the market awaiting more details on the historic announcement from BP on its climate change plans, due September 14th-16th. Several major US oil investors consider this BP move a 100-year strategy shift for big oil. Notably the stunning -40% oil and gas production reduction, as a strategy pillar. US investors remain cynical, the most negative seeing the announcement as a smokescreen for the dividend cut. Elsewhere re-injection issues for ExxonMobil/Hess […]

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Ovintiv Q2 2020 Results

By Paul Sankey Published on July 28, 2020 at 9:47 PM

Why didn’t we pursue this strategy BEFORE the crisis? Harry Hindsight with his take on OVV’s Q2 results. Continue reading

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