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Home > Energy Week > Episode 50 - Perry Visits Saudi Arabia | NOPEC legislation coming? | Shale break even prices
Podcast: Energy Week
Episode:

Episode 50 - Perry Visits Saudi Arabia | NOPEC legislation coming? | Shale break even prices
Category: Government & Organizations
Duration: 00:45:15
Publish Date: 2018-12-12 22:25:33
Description: Perry Visits Saudi https://www.spglobal.com/platts/en/market-insights/latest-news/oil/121018-us-perry-pushes-for-stable-oil-supply-in-talks-with-saudi-minister-aramco-ceo Clearly discussing more than just energy investment opportunities, probably dealing with Iran sanctions issues as well. Perry met with Qatari oil minister, discussing increasing Qatar Petroleum's investments in US LNG. Qatar is invested in US LNG export facility already. NOPEC legislation coming? https://www.spglobal.com/platts/en/market-insights/latest-news/oil/120718-congress-moving-toward-passage-of-anti-opec-bill-sources Political tool for politicians Not likely to see it before next Congress Forecast for oil https://www.cnbc.com/2018/12/10/citi-forecasts-60-brent-crude-in-2019-as-opec-policy-spurs-us-output.html Citi says production cuts from the so-called OPEC+ alliance has only delayed the inevitable Trump, Putin & MbS are the policy drivers behind prices and yet they can't impact prices? According to Citi, OPEC and OPEC+ will remain a major driver for oil prices. If the production cut deal falls apart, prices could drop into the $40s but if they increase it, they could rise to $70 or $80. https://finance.yahoo.com/news/morgan-stanley-slashes-oil-price-180000868.html Morgan Stanley forecasts average oil price for 2019 at $68.78 compared to Citi which is now saying $60 per barrel for Brent. Shale break even prices https://www.wsj.com/articles/big-fracking-profits-at-50-a-barrel-dont-bet-on-it-1543919401 breakeven price is a term that doesn't really mean anything. theoretical price at which some producers might make money and others won't Nice to see WSJ breaking down the issues but are still guesstimating on what they are or what they even mean. Reality is that we don't know what the break even is, plus WSJ is only accounting for publicly traded companies. No data on privately held companies. France 24 The Debate https://www.france24.com/en/20181206-debate-pressure-mbs-washington-pushes-saudi-arabia-over-yemen
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