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00:00Shell Energy have a recovery and that dynamic that Dr. Yergin talks about in the new map. I think that's the critical thing and yeah I mean the points he makes are very very valid. My view on this is that I think shale is going to struggle and I don't think it's going to go back to the 20 19 highs you've seen for the simple reason that investors just don't have the appetite to invest. Gas broadly but particularly with flaring restrictions and just the focus on green energy. Shale companies are having being forced to focus on the green agenda which they just haven't done. So and we all know that shale is very cost intensive. They have to constantly drill. So if the money doesn't flow they're going to struggle to recover. How does Exxon or tactile or you know the big journos Chinese oil company. How did they deal with the new green agenda particularly with a Biden presidency. I think the European companies have already been forced to deal with it if you listen to any of their surefire transcripts. They talk more about renewable energy and electricity than than oil. Exxon of course is taking a very different path and they are focusing on oil and saying look this is what we do best. I will say this that despite all the focus on green energy. If you look at me you mentioned China. That's why I'd raise China over here. China's own demand numbers continue to be revised upwards through to 2030 even though they've continued to say that look we're going to peak in demand by around 2030. For the last three years they've ended up revising demand. Higher oil demand isn't going to go away anytime soon. And if anything we might end up accelerating especially when we do come out of the virus restrictions. People are going to go back on the road. So I think there is a bit of an issue where yes 20 30 years down the line there will be less oil demand. But then the next five to seven years. We can actually get a shortage of oil because there's no investment either. Well help because I couldn't get a straight answer out of Dan Yergin who's too busy negotiating the movie rights for the new map and readers. And what's the range of oil right now. What's the what's the Amrita sand banding of Brent crude. I think we're going to be in a 45 to 55 dollar range right now simply because the downside due to the virus. But there is just so much free money because of the QE that's going on. The weakness of the dollar. I think we could go up to fifty five quite easily especially if you know OPEC meeting later today. If they decide to hold production flat by your end I can see a situation at sixty five dollar Brent because again inventories will have been drawn down.

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Shale to Struggle as Investor Appetite Falls, Analyst Sen Says

Amrita Sen, chief oil analyst at Energy Aspects, says shale oil's price won't revisit its 2019 high as investors don't have the "appetite to invest." She speaks on "Bloomberg Surveillance." (Source: Bloomberg)

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