The fundamentals of oil have never been better than now, according to Marshall Adkins, Raymond James managing director who serves as head of the firm’s energy investment banking practice in Houston.
“As OPEC keeps oil off the market and the U.S. and others struggle to grow production, we are going to be behind the curve and I think that’s what’s going to lend to a multiyear support for crude in the $75-plus range,” Adkins told Hart Energy Editorial Director Len Vermillion.
Adkins, who believes the oil market is meaningfully undersupplied right now, spoke to Hart Energy following his presentation on WTI supply, demand and price at the DUG Permian and Eagle Ford conference and exhibition in Fort Worth, Texas, on July 13.
During this interview, Adkins shares his outlook on demand, storage and why he thinks OPEC is nearing the point where the group of oil-producing countries will max out output.
Jump to a topic:
- Oil outlook (0:30)
- How much will demand increase? (1:20)
- OPEC and Saudi Arabia (2:10)
- U.S. shale (4:30)
- Storage (5:40)
- What’s different this time? (6:55)
Recommended Reading
Utica Oil Riches’ Biggest Challenge: Moving the Crude
2024-10-28 - Leslie Armentrout, the president and co-founder of Silver Cross Energy Partners discusses the opportunities of the Central Basin Platform and Utica—and the challenges.
DT Midstream Moves on Network Expansion, See Gas Demand Up in ‘25
2024-10-30 - DT Midstream expects an increase in natural gas demand in the Haynesville Shale in 2025, despite a third-quarter earnings miss.
'A Renewed Look': Central Basin Platform's Old Rock Gains New Interest
2024-10-29 - As majors prune their portfolios to sell non-core assets, M&A activity is heating up on the Permian’s Central Basin Platform and Northwest Shelf—and Ring Energy hopes to be a buyer.
Harold Hamm: ‘Drill, Baby, Drill’ Faces Geology Barriers, Even Under Trump
2024-11-18 - Harold Hamm, Continental Resources founder and major Trump donor, says the U.S. faces real barriers to expanding production growth—even with Republicans controlling D.C.—as major shale basins mature.
CEO: Berry Gears Up for Horizontal Drilling in Uinta Stacked Pay
2024-12-13 - Berry Corp.’s legacy roots are in California’s Central Valley—but its growth engine is in Utah’s emerging Uinta Basin, CEO Fernando Araujo told Hart Energy.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.