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b'The World For Sale, interview with authors Javier Blas and Jack Farchy
Inspiration for the book? People know very little about who these commodity traders are. After 20 years covering the industry, decided to write the book about these people themselves. Tell the story of how a few commodity trading houses moved commodities and became influential in the market.
Technology- today you couldn\\u2019t do what the commodity traders were doing in South Africa with oil because of satellite tracking. Traders won\\u2019t take these risks because they know people are watching.
Reaction has been pretty good from industry but not entirely so. In general, reviews consider book fair to industry.
Oil companies themselves are seeing the benefits of getting into oil trading - especially Aramco and Adnoc. Why should they leave money on the table when they can make money? Not clear whether the national oil companies have the risk appetite that the trading houses do.
Concerns about disproportionate influence of China in trading market - Western commodities traders say Chinese traders are willing to take risks even they aren\\u2019t. Willing to operate in places western traders can\\u2019t or won\\u2019t go. Only traders left to interact with Iran are Chinese.

Saudi crude exports normal following missile attacks
https://www.spglobal.com/platts/en/market-insights/latest-news/oil/030821-saudi-crude-exports-normal-following-missile-attacks

Brent falls below $70 after Saudi attack as inflation worries mount
https://www.reuters.com/article/us-global-oil/oil-slips-after-hitting-pandemic-high-above-70-after-saudi-attack-idUSKBN2B001J

Is there a risk premium baked into oil prices?

Saudi Arabia Is Playing Chicken With U.S. Shale
https://www.bloomberg.com/opinion/articles/2021-03-07/u-s-oil-rally-saudi-arabia-plays-chicken-with-shale-as-prices-rise

OPEC+ Surprise Sends Oil Past Gulf Budget-Balancing Levels
https://www.yahoo.com/now/opec-surprise-sees-oil-soar-113001476.html

Is \\u201cDrill baby drill\\u201d really over? Does that mean we have to get 13 million bpd? Would 12 mbpd suffice?

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