US-China trade agreement will not have an immediate impact, oil expert says
Oil demand is not as strong, says Johannes Benigni, chairman and founder of JBC Energy Group.
Expecting very volatile and very high oil prices, managing director says
Whatever happens with prices, this will have an effect on supply, says Richard Gorry, MD at JBC Energy Asia.
Oil prices could hit $80 per barrel in first half of 2019: JBC Energy
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.
We could see oil prices moving up, analyst says
Richard Gorry, managing director at JBC Energy Asia discusses the oil prices and the OPEC’s relationship with the U.S.
INTERVIEW: Johannes Benigni on the Current Oil Market
• 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 probably the most pressing issue right now, with the US having the biggest supply addition in 2018.
• The production cut that OPEC+ agreed on is necessary, aiming to balance the market in (early 2019).
• Oil prices are expected to stay around the $60-$65 range and stabilize there.
Al Jazeera America
The oil market is ‘clearly oversupplied’ now: JBC Energy
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.