Salient to Investors: US oil production expanded in 2012 by the most since the first commercial well in 1859, and to the highest level in 15 years. Net petroleum imports now account for 41 percent of demand versus 60 percent 7 years ago. The IEA says the US will become the top producer in 8 years. US
READ MORE... →Salient to Investors: The US is almost free of imported energy dependence and positioned to overtake Saudi Arabia as the world’s No. 1 producer of oil, whether oil is $60 or $120. The IEA said America’s 6.8 million barrels a day in November was 30 percent less than Saudi Arabia’s 9.7 million,
READ MORE... →Salient to Investors: The International Energy Agency said global oil consumption will expand more than previously forecast in Q4 2012 and 2013 on a rebound in Chinese demand. Andrey Kryuchenkov at VTB Capital said most OPEC exporters are happy with the current market balance and price levels. Torbjoern Kjus at DNB ASA said the Saudis will cut
READ MORE... →Salient to Investors: Bill Gross at Pimco said: Interest rates are so low and corporate spreads so tight that you have to be leery of prices going the other way. Structural headwinds may reduce real GDP below 2 percent in the US and other developed nations. With globalization, technological and demographic changes
READ MORE... →Salient to Investors: Peter Richardson and Hussein Allidina at Morgan Stanley said: Calls for the end of the commodities super-cycle is too simplistic as commodities are cyclical but the elasticity of supply and demand and length of the cycle vary significantly. Gold, silver and corn will outperform other raw materials next year
READ MORE... →Salient to Investors: Kevin McCarthy at Midstream/Energy Fund said: the industry will increase profit in 2013, as the drilling boom in U.S. shale fields creates a need for more pipelines, processing plants and compressor stations. the development of unconventional fields is a multi-decade process. his top investments are general partners because that way you get
READ MORE... →Salient to Investors: IEA Chief Economist Fatih Birol said: The U.S. will be the largest oil producer of the world around 2017, the largest producer for about five years starting about 2020, after which Saudi Arabia will become the biggest producer again by 2030. US oil imports will drop to 4 million
READ MORE... →Salient to Investors: The IEA said: The US will overtake Saudi Arabia as the world’s leading oil producer by about 2017 and will become a net oil exporter by 2030, and become all but self-sufficient in meeting its energy needs in about two decades. Global energy demand will grow between 35 and 46
READ MORE... →Salient to Investors: Gerrit Zambo at Bayerische Landesbank said the downside risk is higher than to the upside potential as there is still a chance of a mild recession and the oil market is saturated with supply. Crude in New York is in a downtrend channel on the daily chart, while futures have traded between
READ MORE... →Salient to Investors: Eugen Weinberg at Commerzbank predicts Brent crude will rebound toward $110 a barrel this month, and says the oil markets prefer Obama. Morgan Stanley said Brent will remain in a range of $105 to $110 as higher refinery runs offsets global economic risks. Ken Hasegawa at Newedge Group said we have plenty of crude worldwide,
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