04
Sep
Wrap – Week Ended 09/02/22
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Volatile week with the ZLT down 6.0% on the week after hitting HOY on Monday, retreating on lower traditional, service, and renewables ahead of non farm payrolls and Monday's OPEC+ meeting.
Holdings Watch:
- We added to two of our frac names last week, one gassy upstream name and one LNG name.
- The blotter is updated
Questions and comments under The Wrap will be addressed in the Tuesday post.
We'll have some comments under this post when OPEC+ makes their decision. Our informal twitter poll shows an expectation of a pause with this meeting though we suspect OPEC+ may be leaning towards trimming quotas if not production.
Questions about the site may be directed to zman@zmansenergybrain.com
Enjoy the 3 day weekend,
Z
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https://www.reuters.com/business/energy/opec-weigh-rollover-or-small-cut-monday-meeting-sources-say-2022-09-04/
September 4th, 2022 at 7:20 pmhttps://www.investing.com/commodities/crude-oil
September 4th, 2022 at 7:22 pmLast week: Cooling Degree Days (CDDs) came in at 74 vs 53 normal and 70 in the prior week.
September 5th, 2022 at 6:04 am“Russia’s gas supplies to Europe will not resume in full until the “collective west” lifts sanctions against Moscow over its invasion of Ukraine” ~ Kremlin
https://www.ft.com/content/2624cc0f-57b9-4142-8bc1-4141833a73dd?shareType=nongift
September 5th, 2022 at 6:14 amOPEC+ JMMC at 7 am EST. OPEC+ meeting at 7:30 am EST.
September 5th, 2022 at 6:34 amOPEC+ main discussion said to be token cut of 0.1 mm bopd.
September 5th, 2022 at 6:51 amOPEC+ reverts to August level (reduces by 0.1 mm bopd).
Next meeting October 5th.
https://www.opec.org/opec_web/en/press_room/7002.htm
September 5th, 2022 at 7:30 amWTI up $3+ to $90
September 5th, 2022 at 7:36 amGood evening everyone, I’ve missed my energy rollercoaster over this extended holiday weekend! I can’t wait to see what Tuesday brings us – I’m expecting some fireworks.
September 5th, 2022 at 8:30 pm