Josef Schachter – Oil and Nat Gas Update; Timeline For A Major Buying Opportunity
Josef Schachter, Founder and Editor of the Schachter Energy Report joins us for an update on the energy sector. We start with the macro outlook including upcoming OPEC+ meeting on June 4th and the shift of countries in the east away from the petrodollar.
When it come to the underlying stocks Josef shares the time-frame for a major buying opportunity he sees in the near term and the types of stocks he thinks will preform the best.
Three New China-Russia-Iran and Iraq Agreements Confirm The New Oil Market Order
By Simon Watkins – May 30, 2023
– Moscow signed 10 new cooperation agreements with Iran for the oil sector alone on 18 May.
– China waited for the dust to settle before it too signed new cooperation agreements with Iran on 23 May.
– China has significantly expanded its influence in the Middle East in order to secure sufficient hydrocarbon supplies to fuel its economic growth.
Saudi-Russia Tensions Growing Ahead Of Key OPEC+ Meeting
By Tsvetana Paraskova – May 29, 2023
– Riyadh has grown increasingly frustrated with Russia, which apparently hasn’t kept its end of the deal and isn’t reducing oil production as pledged.
– Russia insists that it is cutting output as planned, but analysts aren’t convinced.
– The Saudi frustration makes sense since the Kingdom is not only losing market share in the most important oil-importing region, Asia, but its own 500,000 bpd cuts have failed to lift oil prices.
https://oilprice.com/Energy/Crude-Oil/Saudi-Russia-Tensions-Growing-Ahead-Of-Key-OPEC-Meeting.html
This fella knows his sector…I will never be at that level of comprehension…I just follow charts…Impressive knowledge that is incorporated into his very existence…..GLTA..I will look up his older recommendations he is offering…I am curious regarding the draw-down his approach allows….