Francisco Blanch - Bank of America Merrill Lynch

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Last quote by Francisco Blanch

Even at these prices levels, they're still bleeding cash. So they want more money and I think the incentive to stay together starts to decrease.feedback
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Sep 25 2017 OPEC
Find all of Francisco Blanch’s quotes that have been published in 13 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, “But we are not aware of any major institution that takes cryptocurrency as collateral at the moment.”.
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Francisco Blanch quotes

Jul 07 2017 - OPEC

The bottom line is if oil falls below $40 per barrel on average, which is why I don't see a lot of downside, we start to lose shale. In the context of OPEC not waging a price war, we need prices high enough to encourage some amount of shale drilling. If prices are $55, we think shale supply grows by 1.1 million barrels a day.feedback

Jul 07 2017 - Fracking

I don't see a lot of downside below $40/$45 range. Maybe we get a little bit of a dip below but I just think the market is pretty oversupplied. Inventories are finally declining but the real issue is we need to have forward prices low enough to discourage shale. We need to see a slowdown in the fracking industry, and we just added 12 rigs which doesn't help at all.feedback

Jul 07 2017 - OPEC

Under $45, you're now moving into contraction territory on a forward basis.feedback

May 16 2017 - OPEC

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

Mar 14 2017

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.feedback

Mar 14 2017 - OPEC

The last few days have been a little bit off … but I do think the objective hasn't changed. They want to achieve higher spot prices, lower forward prices.feedback

Mar 14 2017 - OPEC

We just need the U.S. inventory piles that we have to come down, and again, that requires a wider WTI-Brent spread.feedback

Jan 13 2017

The combination of a very strong dollar ... of trade barriers, and higher interest rates is a bit of a toxic mix for emerging markets.feedback

Jan 13 2017

I think this incoming presidency could accidentally damage the economic tissue of the emerging markets. Emerging markets are very frail.feedback

Jan 13 2017

The issue the emerging markets have is they won't be able to put up with the dollar pressure.feedback

Dec 13 2016 - NAFTA

It could very well be a case where there's some tweaking around on [NAFTA], as opposed to a big breakdown. Certainly, I am concerned a little bit about the Mexican economy. It's been a big driver of demand for U.S. gas. The supply chains are very well integrated between the three countries. Changing the rules of the game on account of NAFTA would be pretty challenging not just for Mexico but for U.S. companies.feedback

Nov 29 2016

I think they'll probably still come up with an announcement. If there's no announcement, the market will fall below $40 a barrel very quickly.feedback

Nov 24 2016 - Iran

Effectively their worst case scenario for next year, which is keeping supply where it is today, probably just became their best case. I don't see a lot of ... international companies going into Iran, a lot of financial institutions going into Iran, given all the uncertainty as to what a new Trump administration with a Republican clean sweep is going to do to Iran.feedback

Nov 24 2016 - OPEC

It's very important that OPEC comes back together, given the potential weakness in emerging market demand.feedback

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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