Francisco Blanch - Bank of America Merrill Lynch

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Last quote by Francisco Blanch

Basically U.S. supply is coming on faster than we anticipated. Now you have a higher inventory level to begin with, and a slower decline. That means in our view, prices are likely to be lower on average. I think it's pretty risky to deepen the cuts when they'll be losing market share to shale. It feels to me that Saudi, Russia, and even the U.S., everyone needs $60 oil. The problem is you can't have the quantities and the prices.feedback
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May 16 2017 OPEC
Find all of Francisco Blanch’s quotes that have been published in 9 different articles on this page. Francisco Blanch’s quotes are organized by date and topic, making it easy for you to compare, for example, what Francisco Blanch has said both recently, and in the past, on a variety of topics. Some of the topics Francisco Blanch likes to comment on include OPEC and Saudis. Most recently, Francisco Blanch said, “I'm not sure why this [is] much of a focus right now. The Saudis have always been trying to push the market into it.”.
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Francisco Blanch quotes

Sep 30 2016

OPEC's action won't propel prices much above our $70 mid-year target.feedback

Aug 04 2016

Historically the Saudis will have been acting as a swing supplier. So they would have been in the market and out of the market, now they just don't want to do that, they want to create volatility, because they know that volatility leads to less investment which effectively means they can take a larger market share down-the-line.feedback

Aug 04 2016

We're seeing a bottom right now for the second half of the year.feedback

Aug 04 2016

I think the Saudis are very happy with that scenario because it's going to enable them to grow their production base. Remember their production cost in $10 a barrel, but they have all these government expenditures that they have to meet. Their breakeven price is around $80 a barrel.feedback

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