Energy Week #12: Prices down on a 10.8mm bbl draw, Iran, Pemex Hedge & More. Hemsworth/Berman/Cook

Macro Voices

Hedge Fund Manager Erik Townsend

Business, Investing, Business:investing

4.8 • 3.4K Ratings

🗓️ 24 July 2019

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

Energy Week featuring Art Berman, Chris Cook and Patricia Hemsworth covers the super-drawdown, price reaction, Iran, Pemex Hedge & more. Link: http://bit.ly/2SDxxRr

Transcript

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0:00.0	This is a special edition of Macrovoises with hedge fund manager Eric Townsend.
0:14.2	The premier financial podcast targeting professional finance, high net worth individuals, family
0:19.8	offices, and other sophisticated investors.
0:23.0	Now for this special edition of Macrovoises, here's hedge fund manager Eric Townsend.
0:30.3	Macrovoises Energy Week Episode 12 was recorded on July 24, 2019.
0:36.3	I'm Eric Townsend.
0:37.3	I'll be joined this week by petroleum geologist Art Berman, commercial broker Pat Hemsworth
0:42.8	and former market regulator Chris Cook.
0:45.7	Our topics this week will include the EIA's massive, massive 10.8 million barrel drawdown
0:52.6	and the unexpected downside price reaction to that event.
0:57.5	We'll talk about the situation in Iran.
0:59.6	We'll talk about the Paymex hedge, the 2020 hedge for Mexican national oil company Paymex.
1:05.8	It will talk about under reported permeant fracking and a host of other issues.
1:10.1	But first, let's dive right into the EIA inventory and production data.
1:15.2	Crude oil inventories drawing down 10.8 million barrels.
1:20.2	A massive massive drawdown and I want to give credit where it's due.
1:23.0	Our panelist, Anis Al-Hajee right after last week's episode tweeted his prediction of a drawdown
1:29.9	between 9 and 12 million barrels.
1:33.0	And sure enough, it came in right in the middle of that range.
1:36.0	So hats off to Anis.
1:37.0	We'll have him back with us on next week's panel.
1:39.9	Cushing Oklahoma, drawing down 1.4 million barrels.
	...

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