Oil & Gas Markets

[dan_s]

SRR, a consulting firm based in Houston, held a meeting this morning: "Energy Market Overview by Todd Parsapour".

If you'd like to see the slides he spoke from, send me an email: dmsteffens@comcast.net

Basically, their view is that oil supply/demand are close to being in balance today. Sometime in 2017, depending on what OPEC does, OECD oil inventories will be back to normal levels. SRR and most of the other reports I get see global demand for oil exceeding supply in 2018. The CEOs of HAL, SLB and BP said the same during their Q3 conference calls.

[bearcatbob]

Had a great round of November golf today. The car on the way home said the Temp was 76. Anyone who watches the WS tonight will see November in NE Ohio.

Things are changing though - golf on Friday will be sunny in the mid 50s.

Gang - winter is going to be late. Hyperbolic forecasts by Bastardi simply continue to be of very little value. Someday he will be right - and so will the Farmer's Almanac.

Bob

[dan_s]

bearcatbob: Are you shorting all of the "gassers"? If so, be careful. I grew up in St. Louis and those mild fall days can turn to blizzards. I have followed Joe Bastardi for many years. Long-term weather forecasting is not for "sissies". He works hard at is job and a lot of energy companies subscribe to his premium service.

Last year's winter was a Super El Nino, much stronger than anyone forecast. It is over now. A cooler Pacific ocean will impact the weather.

FWIW the seven day forecasts in the Houston Chronicle are wrong about 50% of the time.

[bearcatbob]

Dan - I am painfully wrong -- as are most who have followed the projections of weather based on Bastardi. You should lose the guy from you repretoire.