The Joint Ministerial Monitoring Committee (JMMC), the OPEC+ panel that monitors oil market developments and the group’s production cuts, didn’t recommend on Wednesday any changes to output policy but noted that compliance with the cuts […]
Big tech may be driving the stock market, but after a blow-out first quarter, big oil would like a word. After finishing 2023 in the red as the broader market soared, energy stocks have started […]
One major beneficiary of sanctions on Russian and Venezuelan oil? US suppliers who’ve muscled their way into markets once dominated by OPEC and its allies. US oil exports have set five new monthly records since […]
For the last two years oil prices have really been in a very narrow range from $70/bbl. to $85/bbl. Brent crude so to speak. At the start of this year Brent was trading close to […]
We increased our forecast prices for crude oil and petroleum products for the remainder of 2024 in our March Short-Term Energy Outlook (STEO) following the announcement that OPEC+ will extend the existing voluntary production cuts through the second quarter of 2024. […]
Daily Standup Top Stories U.S. Northeast Gasoline Reserve Could Be Sold Off March 4, 2024 Mariel Alumit The U.S. could sell off its 1-million-barrel Northeast Gasoline Supply Reserve in the fiscal year of 2024, a funding […]
OPEC and its allies will maintain their tight grip on oil supply, with several members on March 3 announcing extensions of their voluntary production cuts that had been scheduled to expire at the end of […]
OPEC+ extended its oil supply cutbacks to the middle of the year in a bid to avert a global surplus and shore up prices. The curbs — which on paper total roughly 2 million barrels a day — will remain […]
Daily Standup Top Stories TotalEnergies upholds March restart date for Denmark’s largest natural gas field March 2, 2024 Stu Turley TotalEnergies EP Danmark, a subsidiary of France’s energy giant TotalEnergies, has confirmed the previously set restart […]
In a BofA Global Research report sent to Rigzone this week, analysts revealed where they see the oil price heading in the near and mid-term. “Robust U.S. shale supply growth, warm winter weather, more renewables, […]
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