TOPSHOT – Russian President Vladimir Putin is seen on a screen set at Red Square as he addresses a … [+] rally and a concert marking the annexation of four regions of Ukraine Russian troop...
Tag: OPEC
Could Oil Prices Crash In The Fourth Quarter?
Although the futures strip doesn’t reflect it, many anticipate a much tighter oil market in the fourth quarter. Jeff Currie of Goldman Sachs has predicted that prices will reach $110 by the third quar...
No Reason For Big Adjustments Amid Strong Demand, Price Environment
Indian Prime Minister Narendra Modi, center, greets the delegates at the ‘India Energy Week 2023’ in … [+] Bengaluru, India, Monday, Feb. 6, 2023. Over 500 energy industry heavyweigh...
Stock Market Investing Action Plan — January Wrap: Apple, OPEC, Exxon And The Fed
As the U.S. stock market rally finds its stride, optimism is rising toward stocks, the economy and the Fed’s battle to manage inflation. Hong Kong’s market also reopened to a strong perfor...
Keir Starmer Calls For An “inverse OPEC” To Accelerate Renewable Energy Adoption Worldwide
Getty Images Key takeaways UK opposition Labour Party leader Keir Starmer put out calls to develop an “inverse OPEC” to accelerate renewable energy adoption worldwide Starmer proposed a “Clean Power A...
Are Triple Digit Oil Prices In Your Future?
Jeff Currie at Goldman Sachs made headlines recently predicting higher commodity prices for 2023, including “’Does anyone remember what happened to oil prices from January of ‘07 to July of ‘08?’ Curr...
The Disappearance Of Good Rock Worries Oil Markets
Oil companies drilling in Texas’ Permian Basin are having to adapt to falling output as acreage with … [+] the “top rock” runs out. (Photo by Spencer Platt/Getty Images) Getty ...
Energy Companies Increase Spending in 2023 as Oil Prices Rebound
Oil and gas companies plan to increase their capital expenditure budgets in 2023 due to gains in crude oil prices, executives said in a recent Dallas Federal Reserve‘s energy survey. The majorit...
China’s Reopening Signals Return Of Bull Market
TOPSHOT – People sing slogans while gathering on a street in Shanghai on November 27, 2022, where … [+] protests against China’s zero-Covid policy took place the night before followi...
The Year The Energy Transition Went Off The Rails
A coal miner covered in coal dust with a large hammer drill on his shoulder looking off into the … [+] distance, wearing a aluminum hardhat with a LED light attached looking at the camera while ...
You Won’t Believe How Low Gasoline is Likely to Go
Gasoline prices fell by $0.50 a gallon since November, giving consumers a reprieve into the holiday season. Prices have declined since early November with Americans saving a cumulative $200 million a ...
OPEC+ agrees against cutting oil production further: sell oil stocks?
“XLE” – the Energy Select Sector SPDR Fund is in the red on Monday after OPEC+ agreed against cutting oil production further that sent oil prices back under $80 a barrel. What to expect from energy st...
Oil Jumps as China Loosens Curbs and OPEC+ Keeps Output Steady
(Bloomberg) — Oil surged after OPEC+ kept oil output steady, sanctions on Russian crude kicked in, and China made further progress toward reopening. Most Read from Bloomberg West Texas Intermedi...
OPEC+ Leaves Lower Oil Production Targets In Place—As Biden Reportedly Scraps Plans To Punish Saudi Arabia Over Cuts
Topline The OPEC+ alliance of oil-exporting countries left its targets for global oil production in place Sunday in its first meeting since announcing cuts in October, as the Biden Administration repo...
OPEC+ Pauses as Russia Sanctions and China Covid Rules Roil Crude Markets
(Bloomberg) — OPEC+ responded to surging volatility and growing market uncertainty by keeping its oil production unchanged. Most Read from Bloomberg The outcome of the brief online meeting on Su...
Oil Prices Jump Ahead Of OPEC+ Meeting, Expected Quota Cuts
Oil prices dipped Friday, but made their first weekly advance since early November, as energy markets braced for an OPEC+ meeting and an embargo of Russian oil. Analysts expect an output cut from OPEC...
Could A Controversial Chevron Deal Be A Prelude To Venezuela’s Oil Renaissance?
Venezuelan President Nicolas Maduro shows the accord signed in Mexico on November 26 between the … [+] Venezuelan government and opposition sectors during a press conference at the Miraflores Pr...
Latest Winners And Losers From Recent Gas Price Trends
| Getty Images Key Takeaways Gas prices spiked in June 2022, reaching a national average of $5.00 per gallon. Prices have eased in the second half of the year, as a barrel of crude oil stands at close...
Oil Rises Above $80 With OPEC+ Decision and Inventories in Focus
(Bloomberg) — Oil rose for a third day as data pointed to a large decline in US oil stockpiles, while traders weighed the outlook for Chinese demand and a forthcoming OPEC+ meeting. Most Read fr...
Oil Climbs as China Boosts Vaccinations, Investors Look to OPEC+
(Bloomberg) — Oil rose as China refined its approach for dealing with Covid-19 after widespread protests against strict curbs, and investors looked ahead to an OPEC+ meeting that may see a suppl...
Saudi Arabia Cuts Oil Exports as Kingdom Implements OPEC+ Deal
(Bloomberg) — Most Read from Bloomberg Saudi Arabia has cut oil exports sharply this month as the kingdom delivers on an OPEC+ agreement to shore up global crude markets. Saudi shipments were do...
Oil Producers Deliver Reality Check At COP27 Climate Summit
US Special Presidential Envoy for Climate John Kerry speaks at the opening of the US Pavilion during … [+] the COP27 climate conference at the Sharm el-Sheikh International Convention Centre, in...
What Next For The Strategic Petroleum Reserve?
In an aerial view, the Strategic Petroleum Reserve storage at the Bryan Mound site is seen on … [+] October 19, 2022 in Freeport, Texas. (Photo by Brandon Bell/Getty Images) Getty Images The Adm...
The Keystone XL Pipeline Was An Insurance Policy Against Russia And OPEC
Opponents of the Keystone XL and Dakota Access pipelines hold a rally as they protest US President … [+] Donald Trump’s executive orders advancing their construction, at Lafayette Park nex...
Biden Sacrifices National Security For Midterm Votes With SPR Drawdown
St. James Terminal, a marine unloading and distribution point for crude oil, a U.S. Department of … [+] Energy owned site located southwest of Baton Rouge, La., on the Mississippi River, is show...
It’s Not Always About You
The recent decision by OPEC+ to cut production quotas by 2 million barrels per day was definitely attention grabbing, and not in a good way. Coming just a month before the U.S. midterm elections and d...
This Election Season, Voters Face A Clear Choice On Energy Policy
US President Joe Biden delivers remarks on efforts to lower high gas prices on June 22, 2022 in … [+] Washington, DC. (Photo by Jim WATSON / AFP) (Photo by JIM WATSON/AFP via Getty Images) AFP v...
Dan Yergin Discusses Putin’s Energy War And America’s Obligation To Remain A Reliable Supplier
WASHINGTON, DC – JUNE 22: An image of Russian President Vladimir Putin is displayed as U.S. … [+] President Joe Biden speaks about gas prices in the South Court Auditorium at the White Hou...
Potential Of Peak Shale Puts Oil Market On Edge
ODESSA, TEXAS: An oil pumpjack setup pulls oil from the Permian Basin oil field on March 13, 2022 in … [+] Odessa, Texas. United States President Joe Biden imposed a ban on Russian oil, the worl...
Oil Inventories Worldwide And Oil Price Trends
| Getty Images Key takeaways Oil prices have slowly recovered since the start of the pandemic, topping $120 in the summer of 2022. Prices have since dipped below $100, and OPEC plans to cut production...
The Economics Of A Russian Oil Price Cap
U.S. Treasury Secretary Janet Yellen speaks during a news conference at IMF headquarters, October … [+] 14, 2022 in Washington, DC. (Photo by Drew Angerer/Getty Images) Getty Images Economists o...