Global Energy Roundup: Market Talk

[wilmawatts]

Global Energy Roundup: Market Talk

Dow Jones Institutional News

May 26, 2017 Friday 12:32 AM GMT

1440 ET - OPEC's deal to extend its production cuts will have to prove successful right out of the blocks in reducing bloated inventories, or oil prices could fall sharply, says Dan Steffens, head of the Energy Prospectus Group, at a luncheon in Dallas. He says that while markets gave the original deal in November a bit of a grace period to allow the OPEC members to implement their cuts, this time they are supposed to be hitting the ground running, and results should be seen immediately . "Inventories must -- they must -- start coming down in order to stabilize the market," he says, adding he's confident this will be the case as summer demand heats up. (dan.molinski@wsj.com)
(END) Dow Jones Newswires

[dan_s]

Dan Molinski, a reporter for the Wall Street Journal, regularly attends our luncheons in Dallas.

The slides that I spoke from on 5/25 in Dallas will be posted to the EPG website later today.