Tight or well-supplied?… Reuters – Commodity Research Group

September 24, 2018 by Jim Colburn Leave a Comment

Clyde Russell, Reuters, summarizes the OPEC meeting nicely, here…

“But the rise in prices doesn’t seem to be an issue for Saudi Arabia, with Energy Minister Khalid al-Falih saying after a meeting of OPEC and its allies in Algiers at the weekend that there was no plan to boost output, even though they could if needed.

“The markets are adequately supplied. I don’t know of any refiner in the world who is looking for oil and is not able to get it,” Falih told reporters after the meeting.”

And this:

”While Iran is unlikely to see a drop to zero exports, initial assessments by several analysts that about 500,000 barrels per day (bpd) of Iranian oil would be lost appear way too optimistic now.

It’s possible that Iranian exports may drop by more than 1 million (bpd), and possibly even as high as 2 million bpd, as major customers with the possible exception of China switch to alternatives.”

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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