This compilation of financial insights includes videos from Tech Revolution, Commodity Culture, Kitco News, Bix Weir, and Arcadia Economics.
Tech Revolution shares news of Saudi Arabia cutting off oil supply to the US which leaves Europe on edge. Legendary investor Grant Williams joins Commodity Culture to discuss why we will see more capital flow into gold, silver, energy, and uranium. Rick Rule, President and CEO of Rule Investment Media and former CEO and President of Sprott joins Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News to talk about uranium’s rally to 15-year highs. Bix Weir talks about US Mint making and selling Silver Eagles after the banking crash. Peter Grandich joins Arcadia Economics to discuss the gold rebound as miners still languish.
Nov 7, 2023
In a recent statement, Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman, emphasized the nation’s ongoing collaboration with Russia as part of the OPEC+ agreement. This partnership aims to uphold a steady environment in the global oil market. The Minister highlighted the importance of this collaboration, noting its crucial role in achieving market stability, a feat not seen in other sectors.
This remark was made during an investment forum held in Riyadh. OPEC+, a group comprising the Organization of the Petroleum Exporting Countries and their allies, led by Russia, has played a pivotal role in shaping oil production policies. In their latest meeting this October, the group decided to maintain its current oil output strategy. This decision aligns with the commitment of Saudi Arabia and Russia to continue voluntary supply reductions, a move designed to provide sustained support to the market.
Shifting our focus to the United States, there’s been a noticeable decline in the country’s waterborne crude oil imports from OPEC+ members, including Saudi Arabia, over the past year.
This trend has not only tightened supplies within the U.S. but has also influenced other regions like Europe, as per the latest data and analysis by industry experts.This change in import patterns is becoming increasingly significant in terms of its impact on global oil prices.
Earlier this year, there was a notable modification to the Brent crude benchmark, which is likely to make the levels of U.S. crude imports from OPEC and other exporters, as well as American shipments to Europe, more influential in pricing dynamics.
The recent reduction in U.S. crude oil imports is part of a larger global narrative concerning oil supply and market stability. Key players in this scenario are the Organization of the Petroleum Exporting Countries, Russia, and their allied countries, collectively known as OPEC+. This group has implemented strategic adjustments in oil production to address market dynamics.
OPEC+ has actively managed oil production levels to stabilize the market. Their strategy includes calibrated output reductions to balance global supply with demand. This approach is vital in periods of market volatility, such as during economic downturns or geopolitical uncertainties.
Beyond the collective output decisions of OPEC+, Saudi Arabia and Russia have voluntarily undertaken additional cutbacks. These cuts, amounting to 1.3 million barrels per day, are set to continue until the end of 2023. Such measures by two of the world’s largest oil producers significantly influence global oil supply.
According to Kpler, a data intelligence firm, the total U.S. waterborne crude imports are expected to average around 2.47 million barrels per day in October. This figure is a decrease from 2.92 million barrels per day in September and significantly lower compared to the previous year.
Notably, imports from OPEC+ nations like Nigeria, Algeria, and Saudi Arabia have all seen a decline. Within this larger trend, Saudi exports to the U.S. are particularly noteworthy. They’re anticipated to fall to 241,000 barrels per day in October, a drop from both September and October of the previous year.
This decrease is partly seasonal, with U.S. gasoline demand tapering off post-summer and refinery operations slowing for maintenance. However, there are other factors at play, as analysts point out.
Matt Smith, a lead oil analyst for the Americas at Kpler, explains that by reducing exports to the U.S., Saudi Arabia is strategically influencing market sentiment, managing inventory levels, and consequently impacting oil pricing.
Meanwhile, Saudi Arabia is redirecting more of its crude exports towards China, with a significant increase noted in recent months. In the U.S., particularly on the West Coast, refineries like Chevron’s in Richmond, California, and others in the Los Angeles area have seen a decrease in Saudi crude intake, as noted by Rohit Rathod from Vortexa.
These shifts in global oil flows and trade patterns are pivotal in understanding the current and future dynamics of the oil market, and they continue to draw close attention from analysts and industry stakeholders alike.
Nov 8, 2023
Legendary investor Grant Williams doesn’t currently see generalist investors shifting their portfolios from overvalued tech stocks and into commodities, and he says that’s good news if you want to be early to the party. Grant believes we will see more capital flow into gold, silver, energy, and uranium and if you have a long-term mindset, positioning yourself now makes a lot of sense.
Nov 8, 2023
Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews Rick Rule, President and CEO of Rule Investment Media and former CEO and President of Sprott, who discusses uranium’s rally to 15-year highs. Rule weighs in on what’s driving the market and what’s next, giving his top investment picks. Rule also discusses gold and oil markets in light of heightened geopolitical tensions.
Nov 8, 2023
My recent fight against the US Mint illegally curtailing the sales of the 2023 US Silver Eagles has paid off. The Mint went from making only 900,000 Eagles per month at the beginning of the year to selling 3,983,000 in October! If what I was told by the head of Silver Eagle sales for the mint is TRUE then the totals for 2023 will be near 24M whereas they were only on track for 14M prior to the mid year increase. But whereas Bush Junior famously bragged “Mission Accomplished” at the supposed end of the Iraq War…my mission is far from being accomplished! I am demanding that the US Mint follow the FULL EXTENT of the law by supplying enough Silver Eagles to meet demand and selling them WITHOUT A MARKUP as is required by law. I am also demanding that they STOP using their silver short hedges for price suppression on the COMEX. “Sic Semper Tyrannis!” (translated to…”thus always to tyrants”…or BAD OUTCOMES FOR THE TYRANTS!
Premiered Nov 8, 2023
Both gold and silver sold off sharply in October following Jerome Powell’s commentary at the Fed’s September policy meeting, but have rebounded in the past few weeks amidst geopolitical and treasury supply concerns.
Yet despite significantly higher precious metals prices today than a year ago, the mining sector has continued to struggle through what has become one of the most severe miner bear markets in most of our lifetimes.
So in today’s conversation with investor and analyst Peter Grandich, Peter talks about the reasons why the gold price in particular continues to push up against the $2,000 per ounce level. And also explains why despite the pricing in the mining sector, he believes there’s still significant value in the space, and when he thinks we will finally see a turnaround.
Peter talks about the fundamentals facing the mining sector, especially in a ‘green’ environment that calls for significantly larger amounts of a variety metal, and how he expects that dynamic to affect the miners, and especially the juniors, in the months and years ahead.
So to find our more about how the miners are trading in relation to the current gold and silver prices, and what to expect going forward, click to watch this video now!
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