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Goldman Sachs has been sandbagging their crude forecasts so hilariously that I'm convinced they're frontrunning their customers.
by selectodude 6mo ago
Goldman Sachs has been sandbagging their crude forecasts so hilariously that I'm convinced they're frontrunning their customers.
- JumpCrisscross 6mo agoDo they meaningfully deviate from their peers?
- selectodude 6mo agoNot really. It's just that the divergence in price analysis coming out of banks vs the what people in the oil industry are saying is just so ridiculous that I refuse to believe that the hotshot analysts at GS/JPM are that ignorant.
- JumpCrisscross 6mo ago> divergence in price analysis coming out of banks vs the what people in the oil industry are saying Source for a consensus from oil? The crack spread shows refiners pricing in higher prices [1]. If the domestic refiners and producers can’t agree, why is the homogenous opinion of the banks a conspiracy? [1] https://rbnenergy.com/market-data/3-2-1-crack-spread https://rbnenergy.com/market-data/3-2-1-crack-spread
- selectodude 6mo agoThe source is personal knowledge through friends in O&G. SE Asia is going to run out of oil by the end of April. Even if the war ended tomorrow and the strait opened up again, they will continue to be out of oil for months. US is insulated from practical supply concerns but we’re gonna be paying the price.