MacroVoices #349 Rory Johnston: Crude Oil Outlook & SPR Discourse
Macro Voices
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The Curve Is Not a Forecast, but a Way of Building a Discounted Cashflow Model
The single most important factor, if you were to track anything, that could eventually portend an erosion of US shale producer discipline is the share prices. If those equities re-reached all time highs, which at the beginning of the year, up right into June, they were actually kind of skyrocketing higher. And then this latest round of Fed tightening really pulled risk out of the market and the oil price fell back as well. So I do think that anything you could do to help juice the equity price also helps.
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