Mark Papa, CEO of Centennial Resource Development (CDEV) was the keynote speaker at the May 22 UBS Oil & Gas Conference.
Here are the slides that Mark spoke from: http://www.cdevinc.com/wp-content/uploa ... eynote.pdf
Mark explains that the global oil market is much tighter than most people think and why we need $80/bbl WTI to stimulate the huge investment that will be required to meet future global demand.
Mark Papa: WTI is going to $80/bbl
Mark Papa: WTI is going to $80/bbl
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Mark Papa: WTI is going to $80/bbl
https://www.investorvillage.com/groups. ... d=18315264
New Trends in Oil Supply and Demand
05/ 22/ 2018
Several new developments in oil have emerged recently, and our outlook has become even more bullish. Most importantly, OECD inventory data continues to confirm that the global oil market remains in substantial deficit and that this deficit is accelerating.
> Over the six months ending January 2018, OECD inventory draws relative to normal have accelerated to 950,000 b/d compared with 580,000 b/d for the six months prior.
> US core-inventory draws moderated somewhat in February and the beginning of March, but these numbers are particularly variable over short periods. For example, over the last five weeks US core inventories have resumed drawing by a very robust 700,000 b/d relative to long-term averages.
In particular, the demand figures coming in for India are incredible. We have written extensively about the coming rise of India over the course of the last year and this spring we visited both India and Pakistan on a two-week research trip where we covered our findings in 2 different blogs: Dispatch from the Road post #1: A Decade of Difference in Mumbai, India and Dispatch from the Road post #2: India and the Global Commodity Market.
New Trends in Oil Supply and Demand
05/ 22/ 2018
Several new developments in oil have emerged recently, and our outlook has become even more bullish. Most importantly, OECD inventory data continues to confirm that the global oil market remains in substantial deficit and that this deficit is accelerating.
> Over the six months ending January 2018, OECD inventory draws relative to normal have accelerated to 950,000 b/d compared with 580,000 b/d for the six months prior.
> US core-inventory draws moderated somewhat in February and the beginning of March, but these numbers are particularly variable over short periods. For example, over the last five weeks US core inventories have resumed drawing by a very robust 700,000 b/d relative to long-term averages.
In particular, the demand figures coming in for India are incredible. We have written extensively about the coming rise of India over the course of the last year and this spring we visited both India and Pakistan on a two-week research trip where we covered our findings in 2 different blogs: Dispatch from the Road post #1: A Decade of Difference in Mumbai, India and Dispatch from the Road post #2: India and the Global Commodity Market.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group