Search

Home > Energy Week > Episode 89 - OPEC Meeting and Oil Cuts | Goldman Sachs Price Predictions | Saudi Aramco
Podcast: Energy Week
Episode:

Episode 89 - OPEC Meeting and Oil Cuts | Goldman Sachs Price Predictions | Saudi Aramco
Category: Government & Organizations
Duration: 00:52:46
Publish Date: 2019-12-10 10:11:47
Description: OPEC’s Decision To Cut Production Is A Risky One, Here’s Why
https://www.forbes.com/sites/ellenrwald/2019/12/06/opecs-decision-to-cut-production-is-a-risky-one-heres-why/#433968ad662d
- Risky because if it doesn’t support oil prices then OPEC will seem weak and ineffective.
- Cut for the first quarter.
- Saudi oil minister basically said that shale oil should thank them for the decision to cut oil production and that its a Good Friday for Texas and Oklahoma

OPEC, Allies Finalize Deeper Oil Production Cuts
https://www.wsj.com/articles/opec-allies-finalize-deeper-oil-production-cuts-11575644555
- Prince Abdulaziz bin Salman said that “Aramco will be higher than the $2 trillion, and [the press] can bet this will happen.”
- Angola stormed out of the meeting, but later returned.

Oil slips as weak China exports highlight trade war impact
https://www.cnbc.com/2019/12/09/oil-markets-china-exports-in-focus.html
- data showed Chinese exports declined for a 4th straight month and oil prices declined on this news.
- African swine fever (ASF) in farms in China is impacting Chinese pork farming in China.
- Trump tweets: We are dong well with China in our trade deal

https://www.porkbusiness.com/article/global-threat-african-swine-fever

On Price Predictions:
Goldman Sachs says oil prices are going nowhere next year (from Oct 23)
https://www.cnbc.com/2019/10/23/oil-prices-goldman-sachs-says-brent-futures-are-going-nowhere-in-2020.html

Goldman raises 2020 oil price view on OPEC-led inventory tightness (from today)
https://www.reuters.com/article/us-oil-research-goldman/goldman-raises-2020-oil-price-view-on-opec-led-inventory-tightness-idUSKBN1YD0IZ

- revising Goldman Sachs oil price forecast - now up to $63.00/barrel

Aramco IPO

The $26 Billion Question and What Else to Expect in Saudi Budget
https://www.bloomberg.com/news/articles/2019-12-09/the-26-billion-question-and-what-else-to-expect-in-saudi-budget
- Budget deficit at 6.4% of GDP
- 2020 economic growth expected to be 2.3% (2019 economic growth only 0.4%)
- 10% of expenditures covered by $29

Saudi Aramco’s IPO value rises to $29.4 billion: Banker
http://english.alarabiya.net/en/business/2019/12/09/Non-Saudi-institutional-investors-allocated-23-pct-of-Aramco-IPO-Banker.html#.Xe50Xi395ZI


https://thestarphoenix.com/news/local-news/heavy-smoke-from-train-derailment-stops-highway-16-traffic
- Canada needs more pipelines because transporting oil by rail car is dangerous.

- Catch Ellen on Bloomberg TV Wednesday morning and also on TRT World, Money Talks
Total Play: 0