Richard Gorry of JBC Energy: Based on the current recovery path for the oil market, OPEC+ cuts should be sufficient to balance the market by the end of 2020, including drawing down the oversupply in inventories. CNBC
Johannes Benigni, chairman of JBC Energy Group, discusses the oil market and OPEC’s potential response to the coronavirus outbreak. CNBC
“‘The key driver behind bullish middle distillates is anticipated demand from IMO 2020. However, we believe that the market is overly bullish,’ said Richard Gorry, managing director at JBC Energy Asia.” “‘We would expect middle distillate cracks to weaken from January onwards. Obviously this is also a major risk for those refiners and others who [...]
Richard Gorry, Asia managing director at JBC Energy, discusses oil prices, production cuts and his outlook for the market. He speaks on “Bloomberg Markets: Asia.” Bloomberg
Oil demand is not as strong, says Johannes Benigni, chairman and founder of JBC Energy Group. CNBC
Whatever happens with prices, this will have an effect on supply, says Richard Gorry, MD at JBC Energy Asia. CNBC
Johannes Benigni of JBC Energy explains why he says oil prices could hit $80 per barrel in the first half of 2019, before more supply comes online in the second half of the year. Prices could then slide towards $50 to $60, he says. CNBC
Richard Gorry, managing director at JBC Energy Asia discusses the oil prices and the OPEC's relationship with the U.S. CNBC
• Non-OPEC members (especially Russia) play an increasingly important role in global oil balances. • The reasons why a country chooses (or does not) to be a member of OPEC are manifold, so the recent decision by Qatar to leave OPEC is not a sign of a clear trend. • The US shale supply is [...]
There was "more than enough" compensation for the Iranian lost barrels, and the now-oversupplied market requires more active management, says Johannes Benigni of JBC Energy. CNBC