• 3 minutes Will Iron-Air batteries REALLY change things?
  • 7 minutes Natural gas mobility for heavy duty trucks
  • 11 minutes NordStream2
  • 4 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 hour U.S. Presidential Elections Status - Electoral Votes
  • 13 hours Evergrande is going Belly Up.
  • 4 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 19 hours Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 4 days Poland Expands LNG Powered Trucking and Fueling Stations
  • 4 days World’s Biggest Battery In California Overheats, Shuts Down
  • 3 days The unexpected loss of output from wind turbines compels UK to turn to an alternative; It's not what you think!
  • 8 hours Forecasts for Natural Gas
  • 2 days Ten Years of Plunging Solar Prices
  • 2 days Extraction of gasoline from crude oil.
Julianne Geiger

Julianne Geiger

Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group.

More Info

Premium Content

Saudi Arabia Has A Message For Short Sellers

Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman, is prepared to give oil short sellers a piece of his mind at a high-profile Wall Street investor conference next week.

And short sellers should listen up.

The annual J.P. Morgan/Robin Hood Investors Conference—to be held as a virtual forum on June 16—has Prince Abdulaziz bin Salman lined up as a speaker alongside Ray Dalio, Dawn Fitzpatrick, Paul Tudor Jones II, David Tepper, and Cathie Wood.

The energy minister of Saudi Arabia has been targeting short sellers and oil speculators for nearly a year, famously warning traders last September not to bet against oil.

“We will never leave this market unattended. I want the guys in the trading floors to be as jumpy as possible. I’m going to make sure whoever gambles on this market will be ouching like hell,” Prince Abdulaziz bin Salman said at one of the meetings of the OPEC+ alliance in September 2020.

At the supershort OPEC+ meeting last week that reaffirmed the group’s plan to gradually unwind 2.1 million barrels per day (bpd) of oil cuts by July, the Saudi minister said that wanted to bring “speculators” in the oil market “to their knees,” as the Financial Times reports.

And of course, Prince Abdulaziz bin Salman famously described as a “La La Land sequel” the International Energy Agency’s report that the world wouldn’t need new oil and gas investments if it wants to reach net-zero emissions by 2050. The minister slammed the report in no uncertain terms, saying it was “a sequel of the La La Land movie. Why should I take it seriously?”

The energy transition and the road to net-zero are expected to feature prominently at the Robin Hood Investors Conference next week, considering the growing ESG trend among investors.

The Saudis, via their energy minister, will surely take this opportunity to speak about the role of oil and gas in the future of the global energy systems—and on the perils of shorting oil and crossing the OPEC kingpin.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • Mamdouh Salameh on June 11 2021 said:
    Global oil demand and prices are now generating their own momentum as a result of a global economy growing at 6.3% this year, one of its best performance in recent years, disappearance of the oil glut in the market and a virtuoso performance by OPEC+ in managing the global oil market. To this could be added China’s insatiable thirst for oil and the United States growing economy.

    Short sellers and speculators stand no chance against such a tide. Saudi Energy minister Prince Abdulaziz bin Salman will warn them that they will have their fingers burnt if they try.

    He will further emphasize that oil and gas are here to stay well into the very distant future and that neither courtrooms nor boardrooms or the IEA’s net-zero emissions roadmap which he ridiculed as a sequel to la-la-land movie could change this fact.

    Dr Mamdouh G Salameh
    International Oil Economist
    Visiting Professor of Energy Economics at ESCP Europe Business School, London

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News