On todays episode of Forward Guidance, Oil market veteran Paul Sankey of Sankey Research joins the show for a discussion on the cyclical vs secular trends in the oil market that investors should be paying attention to.
Highlighting how the current market is extremely difficult to trade directionally, as oil remains rangebound after it's 2022 highs of over $100 a barrel, Paul outlines both the supply & demand picture in 2023. Paul goes on to explain the four structural drivers of oil prices, energy companies profitability with oil sitting around the $70 mark & what investors can expect throughout the rest of 2023. To hear all this and more, you'll have to tune in!
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Timestamps:
(00:00) Introduction
(01:17) Paul's Oil Market Outlook
(10:25) Oil Companies Profitability
(11:37) Why Is Oil Demand Lower Than Expected In 2023?
(17:40) Why Is This Oil Market So Tough To Trade?
(19:42) The Four Structural Drivers Of Oil Prices
(22:52) Permissionless
(23:55) Are Oil Equties Cheap?
(35:28) The Political Cycle Is Shorter Than The Energy Cycle
(39:18) How Does Oil Perform During A Recession?
(44:44) The Economics Of ESG
(47:03) Blockworks Research
(48:02) Warren Buffett Continues Buying $OXY
(54:09) The Correlation Between Bank Stocks & Oil
(57:26) Sankey Research
(01:02:23) Small & Mid Size Oil Companies In Canada
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Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.