Join Us For Lunch with Dave Meats
|Topic||Current Crude Prices Are Not Sustainable in the Long Run|
|Date||Thursday, October 18, 2018|
|Time||11:30am – 1:00pm|
|Location||The University of Texas Club
2108 Robert Dedman Drive
Austin, TX 78712
|Speaker||Dave Meats, CFA, Morningstar Research Services|
Current Crude Prices Are Not Sustainable in the Long Run
The likelihood of further supply disruptions is very high, given the imminent restoration of U.S. sanctions on Iran. But rising gasoline prices and a stronger dollar could weigh heavily on demand next year (as could trade tensions). We think crude will remain range bound in the next 12-18 months, albeit with substantial uncertainty. The shale industry – still the marginal producer in our global framework – is a prime beneficiary. But the fact that so many shale firms can thrive in this environment is exactly why it isn’t sustainable. We see another glut on the horizon.
Dave Meats, CFA
Senior Equity Analysts, Energy
Morningstar Research Services
David Meats, CFA, is a senior equity analyst for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. He covers upstream oil and gas companies.
Before joining Morningstar in 2014, Meats was an associate analyst for Raymond James. Previously, he worked as a geophysicist for Burren Energy, a London-based exploration and production firm, and Italian multinational oil and gas firm Eni SpA, which acquired Burren in 2008.
Meats holds an undergraduate degree in physics from the University of Nottingham, a master’s degree in petroleum geoscience from Royal Holloway, University of London, and a master’s degree in business administration from the University of Chicago Booth School of Business. He also holds the Chartered Financial Analyst® designation.