Weaker Chinese demand, high inventories, and rising US shale production are leading to downward revisions in oil price forecasts. Goldman Sachs predicts Brent crude prices to average below $80 per barrel next year, with the […]
Daily Standup Top Stories State Rankings: Electric Vehicles per Capita in the United States August 25, 2024 Stu Turley California leads the nation in electric vehicle adoption, with over 1.1 million EVs and the highest per […]
Oil prices are rising rapidly on Monday morning as global supply is threatened by geopolitical uncertainty. Israel and Hezbollah traded strikes on Sunday in the biggest military exchange between the two since 2006. Meanwhile, Russia […]
China’s oil imports in July were down 12% from June and 3% from July 2023, raising concerns about the country’s economic health and future oil demand. Factors such as the rise of electric vehicles, the […]
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 […]
Citi: oil prices could be set to rebound after sell off. The recent oil price decline is primarily driven by two key factors: easing geopolitical risks, particularly in Gaza with a potential ceasefire on the […]
Daily Standup Top Stories EU Slashes Proposed Tariffs on Tesla’s China-Made EVs August 21, 2024 Mariel Alumit The European Commission has announced the final results of its anti-subsidy investigation into Chinese electric vehicles, with Tesla receiving […]
Crude oil prices moved higher today after the U.S. Energy Information Administration reported a decline in inventories for the week to August 16. Those shed 4.6 million barrels over the period, compared with a build of 1.4 million barrels […]
Oil prices rose after a two-day slump, fueled by worries about potential conflict in the Middle East following the killing of a Hamas leader. This price increase came despite a surprise inventory build reported by […]
U.S. petroleum refiners have trimmed crude processing rates in response to a rise in fuel inventories and a decline in refining margins since the start of 2Q 2024. Refiners’ gross inputs of crude and unfinished […]
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