It's strange that WTI is now premium over Brent.
It's a mix feeling.
Positive
. OPEC will be losing a fraction of power in adjusting the poo. A talkfest
. The US inventories will be no longer the central piece of discussion which is driving the poo. A data
So the talkfest and the data are out of the oil game and the main tools should be the demands and the USD.
Negative
. Most Australian companies are hedging their production in Brent. Org is hedging at $10. There are more pains to come for Aussie drillers.
. Conventional oil play and massive reserves are here to remain to last longer.
Is CVN the only one in Australia.
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