Taps Coogan – June 22nd, 2023

Dr. Anas Alhajji, creator of Energy Outlook Advisors, recently spoke with Gulf Intelligence about the deteriorating quality of worldwide oil industry data as well as his outlook for oil and gas markets.

The wide ranging interview doesn’t lend itself to excerpts but the punchlines are that discrepancies in the US EIA oil data, combined with large volumes of ‘shadow’ exports from Russia, Iran, and Venezuela, are making the global oil and gas production and export statistics increasingly unreliable. Furthermore, Dr. Alhajji see oil prices bracketed between Saudi Arabia’s willingness to keep cutting production if prices go much below $70 and his expectation that China will use its strategic petroleum reserves if prices go much above $80.

While he thinks US oil production can return to new highs, that is only when counting various condensates as crude, highlighting the deteriorating quality and increasing ‘gassiness’ of US oil production.