Saudi Crown Prince MBS teasing 2020 ARAMCO IPO, Never Gonna Happen. IEA 2.3 mm bbls NON OPEC GROWTH 2020. . . . THATS LOW

[Falcon + 222]

Q1 production growth only 300,000 bbls.  IEA sticking with  1.2 mm bbls/day avg for 2019 based on 2nd half 1.6 mm bbls avg ?  Dreaming.

The U.S. will do the the IEA 2020 NON OPEC 2.3 mm bbls on their own with new pipelines coming.  Then add Norway, Brazil, Guyana, etc.

Unfortunately OPEC is in a no win situation. 

Before US shale gas Japan paid $20 mm/btu and US paid $12 mm/btu.  Now US $2.20 mm/btu and US sets the world natural gas price.

SAME DYNAMICS ARE NOW GOING TO HAPPEN TO OIL MARKET.

Edited June 17, 2019 by Falcon