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Oil Rally Fueled By OPEC Production Shortfall
Oil Rally Fueled By OPEC Production Shortfall In December, OPEC+ added 253,000 barrels daily to its combined production falling well short of its 400,000-bpd target OPEC’s underproduction fuels speculation about the cartel’s ability to ramp up production Morgan Stanley: global spare oil production capacity will shrink from 6.5 million bpd at the moment to just […]
OPEC’s Joint Ministerial Monitoring Committee Is About To Begin: Here’s What To Expect
OPEC’s Joint Ministerial Monitoring Committee Is About To Begin: Here’s What To Expect OPEC+ is expected to continue with its plan to increase its production quota 400k BPD The Omicron variant impact is expected to be mild and short-lived, according to the JTC findings The meeting is expected to be smooth, but the issue of […]
OPEC+ Reportedly Threatening Response To Global Coordinated SPR Release
OPEC+ Reportedly Threatening Response To Global Coordinated SPR Release In an apparent ‘threat’ response to headlines suggesting the Biden administration is attempting to coordinate a global SPR release to push down oil prices (and following reports from Japanese media that the government is preparing to release crude from its strategic stockpiles), the Riyadh-based International Energy Forum said OPEC+ […]
Biden Asks The World For Help Easing The Global Energy Crisis
Biden Asks The World For Help Easing The Global Energy Crisis Oil prices have fallen below a key psychological barrier on news that Biden is trying to persuade a number of countries to release crude from their Strategic Petroleum Reserves. Biden’s highly unusual move comes just months after he made another request to OPEC+ to […]
Why U.S. Shale Won’t Go To War With OPEC+
Why U.S. Shale Won’t Go To War With OPEC+ OPEC+ will be very happy with where oil prices currently are and is unlikely to change its course anytime soon The U.S. does have the ability to increase production, but U.S. shale does not have support from either the government or shareholders to boost production significantly […]
Saudis Respond To Biden: Your Energy Crisis Isn’t Our Problem
Saudis Respond To Biden: Your Energy Crisis Isn’t Our Problem US gas prices at the pump (national average) are at $3.421, having soared since President Biden was elected – much like they did when President Obama was elected – to some of the highest prices in history… President Biden refuses to take any blame for […]
Oil Jumps As Investors Expect Cartel To Balk At Biden’s Demands To Boost Output: OPEC+ Preview
Oil Jumps As Investors Expect Cartel To Balk At Biden’s Demands To Boost Output: OPEC+ Preview OPEC+, which meets later Thursday via video conference, has shown little signs it plans to waver from its plan to raise oil production gradually, despite pressure from senile presidents and consuming nations to temper high prices. The OPEC+ alliance’s […]
BP: Oil Demand Has Already Topped 100 Million Bpd
BP: Oil Demand Has Already Topped 100 Million Bpd BP: Global oil demand has already exceeded the threshold of 100 million barrels per day Demand will continue to increase and reach pre-COVID levels at some point in 2022 Global oil demand has already exceeded the threshold of 100 million barrels per day (bpd) last seen […]
Forget $100, Options Traders Now Betting On Oil Prices Hitting $200
Forget $100, Options Traders Now Betting On Oil Prices Hitting $200 $100 Oil is no longer an ‘outrageous’ bet in the call-options market Some speculative traders are now betting on $200 oil in December 2022 For those betting on $100 oil, the leader of the OPEC+ alliance, Saudi Arabia, has a message: look beyond the […]
Putin: $100 Oil Is “Quite Possible”
Putin: $100 Oil Is “Quite Possible” It is “quite possible” that the WTI Crude oil prices reach $100 per barrel in light of growing global demand for energy commodities, Russian President Vladimir Putin said on Wednesday Putin: Russia and its allies in the OPEC+ oil producer group want a stable oil market without any shock […]
OPEC+ Meeting Preview: Another 400k bpd Production Increase
OPEC+ Meeting Preview: Another 400k bpd Production Increase In today’s online meeting, OPEC+ is expected to agree to another production increase of 400,000 barrels per day, a move which is a continuation of the process of rolling back production cuts introduced in the depths of the Covid-19 crisis. The organization expects supplies to remain tight through […]
Brace For Shock At The Pump: WTI Surges Above $75 As OPEC+ Raises Output Less Than Expected
Brace For Shock At The Pump: WTI Surges Above $75 As OPEC+ Raises Output Less Than Expected Brace for shock at the pump. WTI crude prices surged by over $2, rising more than 3% to $75.8/bbl… … the highest since 2018… … amid reports that ahead of the conclusion of today’s OPEC, JMMC and OPEC+ […]
Oil Markets Baffled As The IEA Calls For More Production
Oil Markets Baffled As The IEA Calls For More Production In its latest Monthly Oil Report, the IEA called on OPEC+ to increase production in order to counter higher demand in 2022. The agency claimed that, based on current global economic growth expectations, demand for crude oil and petroleum products will be reaching pre-COVID levels […]
What To Expect From Today’s OPEC+ Meeting: Another Saudi Surprise?
What To Expect From Today’s OPEC+ Meeting: Another Saudi Surprise? After Wednesday’s JMMC meeting ended without reaching a recommendation (as is customary and expected), the key decision-making OPEC+ meeting – where ministers will hammer out May’s output quotas – begins at 1pm London Time. As Newsquawk notes, market expectations are skewed towards an extension of current cuts, […]
OPEC+ Will Keep A Lid On Oil Production
OPEC+ Will Keep A Lid On Oil Production OPEC+ will likely decide to keep oil production essentially steady for another month, according to four Reuters sources. Saudi Arabia and the UAE have both spoke out in favor of the need to tread lightly when it comes to how much oil is put into the market. […]
