Core Labs CEO lays out a bullish case for oil…

January 28, 2016 by Jim Colburn Leave a Comment

On Mad Money, last night, CEO and Chairman of Core Labs, David Demshur, said he expects a recovery in oil prices later in 2016… He talked about “decline curves” which show a reduction of 2.6 mbd of production for 2016. Add to this an increase in demand of 1.2 mbd and a total of 3.8 mbd of new barrels will be needed… He also said that $10 oil “just can’t happen” like in 1986 when the world had “10 to 12 mbd in spare capacity”…

It’s not long:

https://www.youtube.com/watch?v=18dloqfEIpQ&feature=youtu.be

And, yes, of course he is talking his book! But the news has been so extremely bearish lately, above is a counter…

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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