Josef Schachter, president of Schachter Energy Research Services Inc., takes viewer questions on energy and energy-service stocks.
Josef Schachter, president of Schachter Energy Research Services Inc, joins BNN to discuss why oil has dropped more than four per cent Thursday. He says he sees oil dropping below $40USD by the end of June.
Energy prices have been very volatile over the last two years and this may remain the case for the rest of 2017. Between OPEC’s desire for more market share and higher prices, the U.S. increasing production by 9.1 mb/d this month, Iran and Iraq raising production later this year, and Libya and Nigeria adding production while not being a part of the OPEC quota, a glut may arise during the spring shoulder season which we have now entered.
A link to Josef Schachter's earlier appearances on BNN, from before the launch of the Schachter Energy Report.