https://www.bloomberg.com/news/articles ... ow-organic
TY TEAM BIDEN
GOLDMAN SEES $ 90
Re: GOLDMAN SEES $ 90
Key sentence: “Supply chains are so severely depleted that the system can not accommodate any type of disruption,” Currie said.
After reading today's EIA weekly petroleum report, I can't believe WTI is not already over $80/bbl. U.S. and OECD inventories of crude and all refined products are below normal for this time of year and fuels used for winter space heating are "dangerously low". Plus, none of the upstream companies I follow are increasing their drilling programs despite higher oil, gas and NGL prices. If I was the CEO of a gasser, I would be adding a few more rigs to get gas wells on-line as soon as possible to take advantage of these ngas and NGL prices.
After reading today's EIA weekly petroleum report, I can't believe WTI is not already over $80/bbl. U.S. and OECD inventories of crude and all refined products are below normal for this time of year and fuels used for winter space heating are "dangerously low". Plus, none of the upstream companies I follow are increasing their drilling programs despite higher oil, gas and NGL prices. If I was the CEO of a gasser, I would be adding a few more rigs to get gas wells on-line as soon as possible to take advantage of these ngas and NGL prices.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group