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Home > Energy Week > Episode 70 - US Light Sweet Crude | Iran and Iraq | Yields on Oil Prices | Iran and OPEC
Podcast: Energy Week
Episode:

Episode 70 - US Light Sweet Crude | Iran and Iraq | Yields on Oil Prices | Iran and OPEC
Category: Government & Organizations
Duration: 00:56:37
Publish Date: 2019-06-11 07:42:54
Description: Question-what are the Trump supporters in the oil and gas industry in Texas thinking about Trump and his policies considering the recent price downturn? Support for Trump is strong on the ground, Democrats could leverage this and win support away from Trump based on jobs issues. But they aren’t. RPT-Challenges slow Mexico's billion-dollar oil hedge this year -sources https://mobile.reuters.com/article/amp/idUSL2N23E1CG The amount that’s being leveraged is key for Mexico’s entire budget. Banks are hesitant to take on Mexico’s massive oil hedging now because of stricter rules, increased volatility because Mexico’s Maya heavy crude has been trading at a premium to WTI for the last 8 months. Opec output slips to five-year low https://www.argusmedia.com/en/news/1917848-opec-output-slips-to-fiveyear-low?amp=1 OPEC crude oil output shrinks in May, as Saudis cut further: S&P Global Platts survey https://www.spglobal.com/platts/en/market-insights/latest-news/oil/061019-opec-crude-oil-output-shrinks-in-may-as-saudis-cut-further-sampp-global-platts-survey Saudi production is down to 9.7 mbpd according to Argus (9.65 mbpd according to Argus) Iraq’s numbers are at an all time high - but is some of that actually Iranian oil Iran has no plans to leave OPEC despite tensions: oil minister https://mobile.reuters.com/article/amp/idUSKCN1T9085? Iran doesn’t want to leave now and lose out on influence later when sanctions are removed. Perhaps the best move for Iran would be to try and cozy up to Russia at this point. Saudi Arabia's energy minister: The benefit of participation in OPEC+ is obvious http://tass.com/economy/1063004/amp Looks like a OPEC deal is going to be extended Saudi Arabia is still pursuing nuclear power plants with Russian firm Rosatom. Want to build 2 plants, gain expertise and then expand. This is classic Saudi strategy. Why oil prices are dropping this summer https://thehill.com/opinion/energy-environment/447334-why-oil-prices-are-dropping-this-summer US production is giving traders the impression that they don’t need to worry about falling OPEC production. Frackers Scrounge for Cash as Wall Street Closes Doors https://www.wsj.com/articles/frackers-scrounge-for-cash-as-wall-street-closes-doors-11559915320?mod=hp_lead_pos7 Wildcatter mentality has dried up now. If you expect prices to rise then would want to pick up assets sooner. Now the global economic outlook is murky. Could be deals on the table if prices stay in $50s-$60s in 6 months.
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