Michael Wursthorn

speaker
1,567 appearances 29 recordings 1 series first heard Jul 2017 last heard Nov 2021

Michael Wursthorn’s voice in public audio — every appearance, attributed to the second.

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Appearances

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So there's going to be an issue then. voice-verified
There's going to be a situation where if that continues and you have OPEC trying to curtail its production, that the U.S., if it sort of continues, is going to continue to flood the market. voice-verified
And that is always going to be a concern. voice-verified
I think the one thing U.S. voice-verified
producers are trying to be mindful to avoid that. voice-verified
as I was saying before, you're not seeing them put a ton of money into capital expenditure projects, not building more wells, so to speak. voice-verified
They're really focused on holding onto the cash that they have now, not to boost things too much further from here. voice-verified
So those projections do look like the U.S. voice-verified
will overtake it at some point. voice-verified
But there is some belief, some skepticism that that could be pushed out a little bit further just because oil companies and energy companies are trying to avoid that voice-verified
potential overhang at some point that they just put so much supply out in the market that it's going to push prices way back down again. voice-verified
No, yes. voice-verified
It's really coming down to investors feeling a lot more anxious over the future of at least a part of the FANG acronym, the F in this case being Facebook. voice-verified
Ever since that data disclosure, the stock has really struggled. voice-verified
Last time we saw it was about 14% off its 52-week high. voice-verified
So it's come down quite a bit. voice-verified
That's the correction territory for that specific stock. voice-verified
And it's a decline that clearly began after the data issues were revealed. voice-verified
And even though Mark Zuckerberg had appeared before Congress, the stocks really continue to struggle. voice-verified
That said, investment managers are in a tough place here where this is a stock that has gone from around the 30s when it first went public to well over $150. voice-verified
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