Analyst quotes on oil, OPEC… Bloomberg – Commodity Research Group

March 11, 2021 by Jim Colburn Leave a Comment

These quotes are pulled from Grant Smith’s excellent piece in Bloomberg, here…

“It could also encourage a new tide of U.S. shale-oil, Citigroup Inc. says, and turn out to be a mis-step as “counter-productive” as last year’s price war. Or the price squeeze could accelerate efforts to find other energy sources, as in India, a critical customer.”

””Withholding barrels as a means of sustaining the price rally will work,” said Bill Farren-Price, a director at research firm Enverus and veteran observer of the cartel. “But in doing so, the table is being laid for a feast at which the U.S. short-cycle operator will be the guest of honor.””

”“‘Drill, baby, drill’ is gone for ever,” Saudi Energy Minister Prince Abdulaziz bin Salman told a press conference after the March 4 gathering.””

””OPEC+ is throwing reality to the wind,” said Ed Morse, head of commodities research at Citigroup Inc.”

Commodity Research Group (CRG), founded by veteran analyst Edward Meir, is an independent research consultancy specializing in base and precious metals, as well energy products. The Group provides research and general price analysis for these markets, along with advice to companies seeking to construct commodity hedging strategies.

Our associates bring decades of experience to the table, as they seek to help our clients understand the markets. CRG will distill the myriad of pricing variables mentioned above into coherent research that is to-the-point and tailored to a clients hedging or pricing needs. In addition, CRG is available for consulting assignments and speaking engagements. CRG does not manage money or trade for itself.

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