Happy New Year!
From the pop in natural gas prices to the sharp selloff in crude oil prices, 2018 packed a punch for natural resource investors. For your reading enjoyment, here are our top three blogs from throughout the year.
Warm wishes,
-The Goehring & Rozencwajg Team
Interim Special Report on the Oil Sell-Off
Oil and oil-related equities collapsed this week, in what can only be described as extreme panic selling. WTI prices have fallen 30% since October 3rd, erasing all of the gains of the last twelve months. Brent prices have fallen 26% to reach the lowest levels since March. In our many years of writing, we have never issued an “Interim Special Report” but given the severity of the bearishness we felt it was appropriate.
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Update on Conventional Non-OPEC Oil Production and U.S. Shale
“While it is still possible to grow production, it is requiring more and more effort to do so. Eventually, the deterioration of well quality overtakes the ability to increase development and the field enters into decline.”
Despite concerns around strong OPEC oil production and fears around slowing demand sending oil prices lower, it is important to remember one dynamic with potential bullish ramifications: uncertainty around non-OPEC production.
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Precious Metals Do Well in a Rising Commodity Price Environment but Today Oil Represents a More Attractive Investment
What makes us so bullish, especially when everyone else is so bearish?
Often in severe bear markets, obvious bullish data points sit right in front of us and yet no one seems to notice. Our current commodity and natural resource research espouses quite a few reasons along with supporting research for our stance.
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