Ronald Stoeferle: Higher Oil Prices Coming−OPEC Has “Nothing To Spare”

Jim welcomes back Ronald Stoeferle CMT, from Erste Group Bank in Austria. In his recent oil report "Nothing To Spare" Ronald notes OPEC spare capacity is virtually non-existent and we have reached a peak in conventional oil production. He also sees the "Petro Dollar" system losing its influence, as some countries begin to buy Middle Eastern oil in other currencies.

Ronald is a Chartered Market Technician (CMT) and a Certified Financial Technician (CFTe). During his studies in business administration and finance at the Vienna University of Economics and the University of Illinois at Urbana-Champaign, he worked for Raiffeisen Zentralbank (RZB) in the field of Fixed Income/Credit Investments. After graduating, Stoeferle joined Vienna based Erste Group Bank, covering International Equities, especially Asia. In 2006 he began writing reports on gold. His five benchmark reports called "In GOLD we TRUST" drew international coverage on CNBC, Bloomberg, the Wall Street Journal and the Financial Times. Since 2009 he also writes reports on crude oil.