Josef Sachachter, Editor of the Schachter Energy Report joins us to share his outlook for oil and natural gas prices and assess the overall valuations of oil stocks.
When it comes to price forecasts we ask about the impact of geopolitics especially in the Red Sea. We then discuss the supply side of the market balancing OPEC announced production cuts to the actual cuts seen and US production back at all time highs. On the US production front we ask about the falling rig counts vs the higher production levels.
When looking at the oil stocks we ask Josef if he sees companies turning more to growth next year rather than continuing to focus on return money to shareholders. We also ask about M&A in the sector and if large deals will continue in 2024.