Low Cushing tank utilisation (~sub 30%) for so long is the tightest in over 43 years: we were told by schedulers during our visit earlier
Amrita Sen
503 posts
Amrita Sen
@ea_amrita
Full time energy analyst, part time kick boxer, runner
London
Joined February 2011
- The JTC report showing a higher surplus needs to be read in context. OPEC Secretariat has to assume every OPEC+ country produces at quota including Russia. And the report references July. August production will be even lower. We have long highlighted lack of spare capacity #opec
- Sat down yesterday with HRH Prince Abdul Aziz Bin Salman, Saudi Arabia's Minister of Energy, to discuss the Kingdom's view on energy policy, OPEC+ and much more. As ever, so thankful for the generous hospitality of HRH and the entire team at the Energy Ministry.
- Thank you @AndurandPierre for a fun-filled morning! My 2 key takeaways from Pierre were: 1) most bullish oil, neutral European gas and staying on the sidelines of carbon until peace breaks out; and 2) recessions are not binary, doesn’t mean oil has to go down (see 2011-14)
- Very excited to host the awesome @AndurandPierre tomorrow at the @EnergyAspects offices for a live Q&A on everything energy and the irrationality of current oil markets! Looking forward to what clients will ask :)
- Replying to @ericnuttall and @EnergyAspects
- So happy to see so many of our clients at @EnergyAspects’ 2023 IE week event - a record breaking 600+ turnout!
- Worst sentiment ever. Crude can't even rally with a 10 mb US crude and clean products draw. Destocking continues but market given up #OOTT
- For all the talk on EVs, global oil demand set to hit 100 mb/d in 2018, about 7 years before forecasts under IEA's 350 scenario predicted
- Replying to @ea_amritaOur balances which account for production and not quotas show commercial stocks only building by 0.1 mb/d this year and liquids drawing by 0.3 mb/d. This includes all the SPR drawn down! And stocks are still way below the 10-yr avg! Market remains tight
- Was great speaking with @adsteel and @GuyJohnsonTV last night on @BloombergTV - really fun discussion! See you both in person hopefully soon :) Full interview below:
- The intermittency of wind power as Javier highlights is grossly misunderstood by politicians. As is the issue of wind not generating enough returns. Read about this in our recently published report bit.ly/3XIkU8U