The OPEC/NOPEC agreement to extend production cuts raises the soft floor from $50/bbl to $60/bbl based on Saudi/Russia solidarity. We expect $60/bbl to be immediately (verbally) defended if crossed. OPEC…

The market setup has reached a binary turning point: 1) priced for deal extension cuts well into 2018, 2) for continued stock draws with strong products demand and 3) for…

Market sentiment shifts from re-balancing to tightening as a flurry of data, supply concerns and headlines feeds higher momentum. All stars aligned for OPEC as it “manages” the paper market…

Dwindling stocks brings explosive upside potential near-term with supply buffer all but disappeared, while global production outages hits 6-year lows. The oil market has moved past the collapse in distillate…

It was great to attend the annual Oil & Money conference in London this past week. Interestingly, natural gas was allocated a full day, highlighting its importance in Big Oil’s…