LNG bulls better hope for high LNG prices for these projections to pay out

GA907
2023-06-23

$WTI Crude Oil - main 2308(CLmain)$ $Micro WTI Crude Oil - main 2308(MCLmain)$ $E-mini Crude Oil - main 2308(QMmain)$

-Cracks are still very, very strong.

-Refinery throughput is highest in the last 4 years.

-Implied product demand keeps improving with both gasoline and jet fuel demand sitting comfortably above last year.

Yet, it's a demand problem! Oki.

Natty production has dropped below 100 bcf/d for the 1st time since Feb 10/23.

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On the other hand, LNG exports look 🤮

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LNG bulls better hope for high LNG prices for these projections to pay out

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Price assumptions for different scenarios.

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