The strategic appeal of Santos
Oil market participants are waiting on the outcome of the OPEC meeting to be held in Vienna next Wednesday. As the date draws closer, the Commodity Futures Trading Commission reported that bets on oil recently reached their highest level for a weekly period since 2007. Romano Sala Tenna, Portfolio Manager at Katana Asset Management, told Livewire there is strong incentive for a deal to be struck at the meeting: “People have to recognise that every single member of OPEC want a deal to be done ... if you’re producing 4 million barrels a day at US$75/barrel, versus US$50/barrel, that’s a massive impact on your bottom line without any additional costs or expenditure.“ In this two-minute video, Romano also explains why he thinks Santos is such a key strategic asset, and why it is attracting corporate interest from offshore.
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