We are in major turmoil (pun) around the world’s energy crisis. Where do you think oil and gas prices are going from here? Key influencing factors include;
- Decreased demand due to economic factors
- Germany’s major industries limiting manufacturing investments due to energy.
- Russia is making historic revenues on energy exports even with sanctions.
- EU looking at trying to put in Russian energy price cap sanctions. – That will only increase energy prices, as we saw Putin react by shutting of Nord Stream 1.
- Biden Administration is looking to limit energy exports, increasing world energy prices.
- Iran Nuclear Deal will have an estimated 70 million barrels injected into the market if signed. Biden is doing everything it can to get this signed.
- Biden needs one big win before the election, and the Obama team is helping with the negotiations.
- Europe is in for a decade of tough economic recovery.
There has never been such a total diametrically apposed pull on world oil and gas markets. Putting a crayon to the pricing matrix is tough, and having everyone’s opinions will help.
Below was a segment from the BBC with Cornelia Meyer about the energy markets.
