The IEA has lowered its global oil demand growth forecast for 2024 to 900,000 bpd, down from the previous estimate of 2.1 million bpd, primarily due to a significant slowdown in Chinese oil consumption. China’s […]
Daily Standup Top Stories Oil Markets Are Ignoring Imminent Production Cuts By 3 OPEC+ Members September 11, 2024 Stu Turley It’s doubtful whether the Gulf of Mexico shutdowns will generate enough momentum to fully reverse the […]
It’s doubtful whether the Gulf of Mexico shutdowns will generate enough momentum to fully reverse the months-long oil price selloff. Back in July, Russia, Iraq and Kazakhstan submitted their compensation plans to the OPEC Secretariat […]
Daily Standup Top Stories In Germany, The Green Energy Transition Is Only Getting Worse September 10, 2024 Andy Del Prado Germany is running faster and faster to stay in place. In the meantime, it is destroying […]
For the second consecutive month, OPEC slightly cut its forecast for 2024 global crude oil demand in its September Oil Market Report published Tuesday. The cartel had held firm to its initial 2024 forecast, first published in […]
Daily Standup Top Stories Ukraine Strikes 2 More Oil Depots Deep Into Russian Territory August 28, 2024 Stu Turley The Ukrainian military claimed on Wednesday to have downed a Russian fighter jet over eastern Ukraine as […]
An attempt to replace the central bank governor led to a shutdown of eastern Libyan oil fields. Libyan Central Bank Dispute Shuts Down Oil Production Global oil prices jumped more than 7 percent Monday amid […]
Rising oil production in the US, Guyana, and Brazil is challenging OPEC’s ability to reverse its output cuts. The EIA forecasts that global oil supply will fall short of demand in the second half of […]
Daily Standup Top Stories We’re Burning More Climate-Warming Coal Than Ever. Why? August 12, 2024 Stu Turley There’s little doubt that avoiding the most dire effects of climate change requires phasing out power stations that burn […]
OPEC cuts its 2024 oil demand growth forecast by 135,000 bpd due to weaker Chinese demand. The cartel also lowered its 2025 oil demand growth estimate. OPEC acknowledges uncertainties in the global economy, impacting oil […]
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