Javier Blas

Javier Blas


Chief Energy Correspondent at Bloomberg News. I write about oil, gas, mining, agriculture and commodities. Any views expressed are my own. jblas3@bloomberg.net

94136 followers  •  1267 follow  •    •   https://t.co/IRgBrKl2rh

As European oil companies shift into renewables and adapt to climate change, shareholders payouts are suffering. @Repsol  of Spain has slashed its dividend from €1 per share in 2020 to 60 cents in 2021 | #OOTT  $REP

CHART OF THE DAY: Copper rises to 6-year high

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OIL DEMAND: Implied US petroleum products consumption is holding up despite rising covid cases. @EIAgov  total product supply (a proxy for demand) at 19.315m b/d last week (on a 4-week rolling average), little changed with previous week | #OOTT  More on @TheTerminal 

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COMMODITY DIPLOMACY: Australia appears to be trying to find a way out -- and lower the temperature -- of an escalating crisis after China effectively stopped buying most of its commodities, crucially coal | #China  #Australia 

And here the punch line from today's Repsol's strategic investor presentation: its low-carbon business won't be free-cash flow positive until 2030 (!!!) #OOTT  $REP

OIL DEMAND: Number of passenger going through U.S. airports hit yesterday the highest since the start of the covid pandemic, at 1.07 million. More importantly, the drop in passenger flow y-on-y improved to -59% (first time above -60% since Mar 23) | #OOTT  .

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(And with it, all my great lockdown weekend plans...)

ANALYSIS: “In the future, certainly we believe OPEC will be the swing producer — really, totally in control of oil prices,” Bill Thomas, chief executive officer of EOG Resources, the biggest independent shale producer | #OOTT  #Permian 

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‘Yes Minister’ has a perfect summary of most Western countries response to the coronavirus outbreak 😷

BREAKING: ⬆️ Brent crude up $10.94 (or 18%) to $71.16 a barrel as market opens in the wake of the Saudi attacks #OOTT  #SaudiArabia  #oil 

The waiting line for Trump’s speech in #Davos  (still nearly one hour to go). Has the feeling of teenagers queuing for a concert, but this are billionaires and CEOs#tictocnews  2018 #Davos2018 

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🚨BREAKING 🚨Saudi Arabia is launching the oil market equivalent of a declaration of war: plan for a big production hike, and offering huge discount for its crude | #OOTT  #OPEC  #SaudiArabia  with @A_DiPaola17 

VIDEO: US Coast Guard says it’s keeping an eye on 27 oil tankers anchored off the coast of Southern California. Another great example of floating storage build-up as demand for oil and refined products plunge | #OOTT  #Contango  video via @USCGLosAngeles 

Only in #Davos  you get a sign with “private car pick-up” direction alongside the “A day in the life of a refugee” exhibition. #Davos20182 #tonedeaf018 #tictocnews 

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🚨🚨🚨BREAKING🚨🚨🚨 WTI OIL FUTURES TRADE AT NEGATIVE PRICE FOR FIRST TIME EVER | #OOTT 

The #SaudiArabia  investment conference started earlier today with a full standing room, but as the day progresses, the main auditorium is slowly getting deserted. It shows the impact of many foreign investors not attending. #FII2018  #TicTocNews  #OOTT 

This is the weirdest OPEC meeting I had ever covered. And I have covered a few. An historic 10m b/d output cut. Then, out of the blue, a Mexican standoff. And then Trump on the phone, simultaneously, with King Salman and Putin, followed by a Trump press conference | #OOTT 

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