Blue Lacy Advisors, LLC - October Crude Oil Market Commentary
Minneapolis, MN | October 6, 2022 | By: Steve Sinos, Blue Lacy Advisors LLC
An uptick in the average time on the water for cargoes and longer distances offer some evidence of the world’s shifting balance of crude trade. Europe seems to be driving this shift, as it takes in more LatAm and WAF crude, displacing U.S. and Russian barrels. Waterborne Russian barrels were down ~1mm bpd by the end of Sept. compared to August, while Libyan barrels rose by about the same volume. I choose that pair because it is an excellent example of this effort to displace Russian oil. The availability of alternative barrels may define the coming months. Libyan exports and production have been volatile recently, and unreliable crude sources may threaten Europe’s efforts.
*This summary is based off October 2, 2022
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Meet the Author!
Steve has spent his career in strategy, risk, trading, and investment. He works with investors to source investments in opportunistic or high growth sectors, with particular interest in early-stage companies solving clearly defined problems.
He is currently a Managing Partner with Blue Lacy Advisors LLC, giving management teams and investors confidence in their decision making by supporting strategic planning and execution, risk management, commodity trading, and market analysis.
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