Jan Stuart, global energy strategist at Piper Sandler & Co., joins BNN Bloomberg’s Jon Erlichman and Andrew Bell to talk about the supply and demand story for oil after prices fell below $70 a barrel for the first time since December 2021. Stuart says there is a crisis of confidence in the oil markets right now and the inventory build for the first half of 2023 is already done.
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22 Comments
👍👍.I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market. i was at a seminar and the host spoke about making over $972,000 within 3 Months with a capital of $200,000. i need to know how to go about it.
Do not worry folks Harris and Biden have everything under control.
102 barrels a day is the old peak back in 2018. Can we reach it again?
Last ditch effort to stabilize the house of cards.
All current data, from massive decreases in import numbers out of China to gross underutilization of shipping and collapsing of shipping rates to rapidly expanding numbers of people carrying credit card balances, point towards complete demand destruction, which is expected to persist throughout 2023 from analysts outside of Bloomberg. It is impossible for the demand for oil to increase under such conditions. It must be noted that this all started happening before the current banking crisis.
Yet Galaxy brain Janet Yellen thought a $60 "price cap" on Russian oil was a great idea. US government is the laughing stock of the world, a "first world" banana republic. The banks should have been allowed to collapse in '08. All the "quantative easing" did was kick the can down the road. Both of these events under a DUMBocrat administration.
Why not? Oil could be $30 a barrel. The breakeven price is $20 a barrel.
It’s brilliantly hilarious 😂
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drill, baby, drill.
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full employment in the US
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Russian money-power collapses/ Guillotines roll-out in St. Petersburg, Moscow, Minsk.
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Arab potentates flee for their lives to the South of France.
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pump it ALL… $10/ barrel, baby.
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all fake! oil prices being forced down by usa to take profits from Russia! will not work. Saudi will cut production. all will follow! usa can not provide oil to everyone! usa oil storage is low! prices will go to $8.00 a gallon soon!
We have all tired of supply chain crying, that goes double for petro supply chain.
If this is as bad as it sounds media isn’t really covering it surprise surprise.
Hey
These companies have been screwing the consumer for some time.
How do you get record profits with a reduced oil price ? By inflating the price of gasoline and diesel leaving the refineries.
We all know it.
A little price correction is exactly what is needed .
The Americans aren't being left out from power maneuvers in the global oil conversation, they have lost interest as the Shale Revolution and proximity to Western Canada's oil has made the drama of the global oil market irrelevant to them.
We are in a paradox, but no matter what get used to late stage Keynesian economics
Every day more EV's hit the road. The decline in oil demand has only just begun. EV adoptions is following a rising S curve. Oil demand is following a falling Z curve. You know it's true because the Saudi's are selling their oil company shares to fools around the world.
The way the US and Canadian center banks have f*** up royally with rate hikes, anything can happen and fall apart and nobody can predict
USA does not need any oil. They are not in the oil market.
He said he believes the Ukraine war makes a bul market, I can just see them cheering on the death and pain
Recession recession recession
Biden is desperate for your country to invest in America along with other countries Interestingly Water is the Big Future
Numerous Mineral and Metals professors and petroleum geologists have been trying to Warn All global governments for years regarding this Huge Shortage Which will happen within 10 Years
Professor Simon Michaux has done extensive research into this for years and has graphs facts to show this He said it is Urgent to start Planning Now! Watch very helpful and understanding podcasts regarding Energy Blind and possible Solutions Maybe because they know already our Western countries are in dire consequences Also watch YouTube podcast Gita :The Master Series by Simon Michaux he knows his Facts and interview him 🕊🌏🙏🏼
Also for all of Chinas Huge production supplies of building Wind turbines and Solar Panels why don’t they install A lot more of these in their country? 🧐