On average, Stratas Advisors predicts that supply will be at a deficit of 840,000 bbl/d during 2024.
Only by expanding U.S. LNG output can we provide the certainty that customers require to build new gas power plants, says Ed Hirs.
Stratas Advisors expects oil prices to move higher in the middle of the year, but for the upcoming week, there is no impetus for prices to raise.
The Energy Information Administration says it is unlikely that the record will be broken by another country in the near term.
Stratas Advisors' John Paisie forecasts the price of Brent crude to increase during the second and third quarters of this year and move toward $90/bbl.
Exxon Mobil has filed a contract arbitration claim related to Chevron’s proposed purchase of Hess Corp.’s interests in the Stabroek Block offshore Guyana.
Meg O’Neill, the CEO of Australian energy giant Woodside Energy, is overseeing the “next wave” of growth projects around the globe, including developments in the Gulf of Mexico, offshore Senegal and further LNG expansion.
For the upcoming week, Stratas Advisors expect the price of Brent will move sideways and will struggle to break through $85.
Rising geopolitical tensions due to the Israel-Hamas conflict and Houthi attacks on Red Sea shipping have supported oil prices in 2024, although concern about economic growth has weighed.
Chevron's plan to buy Hess Corp. and assume a 30% foothold in Guyana has been complicated by Exxon Mobil and CNOOC's claims that they have the right of first refusal for the interest.