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Outlook For Energy Markets - New York Energy …
K. Spector - January 20141 Katherine SpectorHead of Commodities StrategyCIBC World For Energy MarketsJanuary 2014K. Spector - January 201421. Global Crude: Supply could surprise in either direction, but when sthe last time a failed state surprised us in the good way?Supply outages still rule the oil balance. The Call on OPEC may be falling,but the Call on Saudi isn t at least not yet. A range of scenarios in fourkey hotspots Iran, Iraq, Libya, and Nigeria is how we frame our viewsfor global North American Oil: Time to focus on PADD 3As the light crude bottleneck moves south, we also start to think aboutheavy crude market share, and potential constraints on US Gulf refinedproduct Natural gas: Don t let the weather fool you!
K. Spector - January 2014 1 Katherine Spector Head of Commodities Strategy CIBC World Markets katherine.spector@cibc.com Outlook For Energy Markets
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