Very good Oil Guru on CNBC last evening said Saudis may be
thinking about causing more Volatility in WTI because USA is
dominating OIL with record production.
specifically - Paul Sankey: Saudi could add 2M barrels (they
have capacity for 11m, vs current production 9m) and flush the oil
market down to $60 so that US producers stop expanding - they are
profitable at $60 / barrel oil. . The European integrated cos
Total, TTE and Shell - break even at $40 - more efficient than US
integrated cos.
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Very good Oil Guru on
Posted by rbreese on 1st of Dec 2023 at 08:45 am
Very good Oil Guru on CNBC last evening said Saudis may be thinking about causing more Volatility in WTI because USA is dominating OIL with record production.
specifically - Paul Sankey: Saudi
Posted by te22 on 1st of Dec 2023 at 11:20 am
specifically - Paul Sankey: Saudi could add 2M barrels (they have capacity for 11m, vs current production 9m) and flush the oil market down to $60 so that US producers stop expanding - they are profitable at $60 / barrel oil. . The European integrated cos Total, TTE and Shell - break even at $40 - more efficient than US integrated cos.