Asking about oil price levels and producer sentiment during holidays
Joe
Helima Croft
US producers complain about price environment but like Trump's deregulatory agenda; US production remained high with additional supply from OPEC, Brazil, Guyana
Asking about travel impact and US as swing producer
Joe
Helima Croft
RBC expects WTI prices to hang out in mid-to-high 50s this year barring major political disruption; not optimal for US producers but they can weather this price for about a year
Asking about geopolitical risk locations: Venezuela, Iran, Ukraine, Middle East
Joe
Helima Croft
Venezuela requires $10B/year investment and stable security; Israel-Iran conflict could risk regional supply; market expects Trump to deliver deal to end Ukraine war