Worthwhile listen.
https://www.bnnbloomberg.ca/video/u-s-t ... ns~1467122
RBC analyst Helima Croft discusses effect of Iran sanctions
Re: RBC analyst Helima Croft discusses effect of Iran sancti
Thanks for posting. You all need to listen to the short interview with Helima Croft, she is an expert on the global oil market.
MY TAKE:
> 11 million bbl release from SPR is like pissing on a forest fire. Remember, this world will be consuming over 100 million bbls per day in Q4.
> A large drop in Iranian exports (over 1 million bbls per day or more) is coming in November.
> U.S. shale production cannot fill the gap
> OPEC is very little remaining production capacity
> WTI goes to mid-$70s and Brent to mid-$80's based on the fundamentals
> If Iran does something crazy (restarts nuclear enrichment, closees Strait of Hormuz, etc.) the price of oil goes to triple digits in Q1 2019.
MY TAKE:
> 11 million bbl release from SPR is like pissing on a forest fire. Remember, this world will be consuming over 100 million bbls per day in Q4.
> A large drop in Iranian exports (over 1 million bbls per day or more) is coming in November.
> U.S. shale production cannot fill the gap
> OPEC is very little remaining production capacity
> WTI goes to mid-$70s and Brent to mid-$80's based on the fundamentals
> If Iran does something crazy (restarts nuclear enrichment, closees Strait of Hormuz, etc.) the price of oil goes to triple digits in Q1 2019.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group