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NO WAY FOR NOPEC

Inevitably aided and abetted by increases in oil prices and a US President who has been a long term critic of OPEC

OIL PRICE CALAMITY

OIL PRICE CALAMITY

When it came it was as abrupt as it was devastating, a collapse in crude oil price futures significant enough to be defined as a material adverse change. In other words a calamity, at a time Nigeria is least able to absorb it. 

HEDGE FUNDS BET ON A BEAR MARKET

HEDGE FUNDS BET ON A BEAR MARKET

Hedge fund managers unwound bets that crude will fall at the fastest pace in 16 months as the prospects for a trade war truce and a slowdown in shale drilling helped futures rebound.

OCCIDENTAL GET IT RIGHT?

It now seems that the massive Hedge undertaken by Occidental Petroleum Corp (OXY.N) and reported as “costless”

VITOL ROLLOVER AND PAY FINE

Vitol is the largest global independent trader of crude oil and refined petroleum products.

OPEC Face Down Shale

This is no time for OPEC+ to cut production and if I were in charge I would maintain production levels as they currently stand.

NNPC Learn To Hedge

There is reason for Nigerians to worry and it is not only the arrival of COVID-19. Oil price benchmarks are in freefall, crashing through resistance levels as if they were none existent. This week has seen Oil fall to its lowest price levels since July 2017 and barring  a miraculous cure for the COVID-19, it is difficult to see what an OPEC+ are able to do to arrest this  downward spiral. We may see Brent below $45 as Libya gets back on stream.

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