from seeking alpha article Saudi's Oil Policy - 'F
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Posted On: 02/15/2019 6:29:01 PM
from seeking alpha article Saudi's Oil Policy - 'Fool Me Twice, Shame On You'
Feb. 14, 2019 3:01 PM ET|
Summary
The Saudis won't be fooled again.
March production/export figures indicate Saudis have no intention to fill the Venezuela void in the short term.
Saudi is also continuing its oil policy of tanking exports to the US with only 1 VLCC loaded for the US so far this month.
Saudi's power burn demand rebound this year may also further reduce exports.
We are forecasting Brent to average $75 to $78 this year.
Feb. 14, 2019 3:01 PM ET|
Summary
The Saudis won't be fooled again.
March production/export figures indicate Saudis have no intention to fill the Venezuela void in the short term.
Saudi is also continuing its oil policy of tanking exports to the US with only 1 VLCC loaded for the US so far this month.
Saudi's power burn demand rebound this year may also further reduce exports.
We are forecasting Brent to average $75 to $78 this year.
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