John Driscoll of JTD Energy Services notes, however, demand is likely to increase during a harsh winter, saying “we could be in for a wild ride.”
PDF : Energy Crisis Helps Refiners
OPEC+ may become a victim of its own success, strategist says
JTD Energy Services’ John Driscoll discusses whether oil at $70 a barrel is sustainable and what OPEC’s exit strategy looks like.
Asked about near-term oil prices on CNBC last Monday (October 26), my response was "they're very fragile".
The plunge last night (October 28) on oil prices (and just about every other asset class) validated my prediction. We see more volatility ahead as US elections roll up next week. Buckle up everyone.
OPEC+ is facing a 'very delicate, fragile balancing act' in the oil market, strategist says
OPEC and its allies need to find a balance between supporting oil prices and keeping U.S. crude production at bay, a strategist told CNBC this week as the oil-producing group starts to roll back supply cuts.
Asian Buyers Turn to U.S. Oil Amid Uncertain Flows From OPEC
As the OPEC+ alliance sticks to its guns in trying to curb oil output to shore up prices, Asian buyers are increasingly looking to the U.S. for a cheaper source of supply.
The world is 'awash in seas of oil' as price war rages on: JTD Energy Services
The rising threat of negative oil pricing is a "clear sign" that oil producers need to to cut production levels, says John Driscoll, JTD Energy Services' chief strategist. He says storage costs for surplus supply risk increasing beyond what's profitable as the world runs out of space for surplus oil and demand collapses amid the coronavirus crisis.
