We Study Billionaires - The Investor’s Podcast Network TIP572: Finding Value in the Oil Market w/ Josh Young
Aug 27, 2023
In this chat, oil expert Josh Young, Chief Investment Officer of Bison Interests, dives into the current oil market's pulse. He discusses Warren Buffett's strategic oil investments and OPEC's urgent push for increased production amidst supply concerns. The reopening of China is addressed as a major factor affecting global oil demand. Josh also shares insights on U.S. and China's contrasting petroleum reserve strategies and speculates on future oil prices amid rising interest rates, all while contemplating the potential of alternative energy sources.
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Oil Market Surprises
- Russia maintained oil market supply against expectations.
- Weaker Chinese petrochemical demand and stronger Russian exports impacted prices.
Buffett's Oil Preferences
- Buffett appears bullish on oil prices, favoring Occidental Petroleum over Chevron.
- This suggests a preference for oil production over refining and downstream operations.
Berkshire's Energy Strategy
- Berkshire Hathaway Energy's investments in natural gas align with its broader energy portfolio.
- These investments are likely independent of Buffett's personal stock picks.