Video on oil

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Fraser921
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Joined: Mon Mar 22, 2021 11:48 am

Video on oil

Post by Fraser921 »

dan_s
Posts: 34465
Joined: Fri Apr 23, 2010 8:22 am

Re: Video on oil

Post by dan_s »

Key statement: "This world is out of spare production capacity for oil." Everything points to higher oil prices this winter.

OPEC+ is just cutting their official production quota this week because they cannot produce enough to meet the quota. OPEC+ actual production in August was ~3 million bpd below forecast. They do not have the physical supply without more Russian oil.
Dan Steffens
Energy Prospectus Group
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