L2 Capital

In today's episode, Marcelo López talked to Adam Rozencwajg, managing partner at Goehring & Rozencwajg, a company specialized in natural resource investments, such as mining, energy and agriculture. Adam explains the model developed by G&R to understand the dynamic of the shale oil production in the United States and the conclusions drawn regarding the level of productivity and quality of each oil well. Rozencwajg talks about the price war between Russia and Saudi Arabia and the impact that the clash has had on the oil market. He mentions the strengths and weaknesses that each side has in this dispute, such as, for example, the ability to deal with low prices, oil price needed to balance the budget and the influence of the currency on the costs and profitability of oil companies. Adam comments on the impact that the COVID-19 pandemic is having on world oil demand and stocks so far and his expectations going forward. In the face of low oil prices, Rozencwajg discusses the ability of U.S. shale producer