The Oil Market Has A Big Problem | Paul Sankey

5 snips

Oct 4, 2024

Paul Sankey, a veteran oil analyst from Sankey Research, shares his insights on the oil market's future. Contrary to expectations, he predicts a decline in oil prices, potentially dropping to $50. Sankey discusses the influx of capacity from Guyana and the U.S., and how Saudi Arabia's renewed focus on market share influences pricing. He also examines the supply-demand dynamics, the impact of geopolitical tensions, and the challenges faced by smaller oil companies against industry giants. His analysis provides a compelling portrait of the shifting landscape of the oil industry.