For the upcoming week, Stratas Advisors expects that oil prices will move upwards but that the price of Brent crude will not break through $82 without some additional geopolitical disruption.
OPEC and other producers including Russia, known as OPEC+, have implemented a series of output cuts since late 2022 to support the market.
The Russian tanker was spotted at Artic LNG 2, in a region in which the U.S. imposed sanctions in November.
Rumblings that the petrodollar is dead are likely overstated, but the demise of the long-time practice would have far-reaching implications for the U.S.
The International Gas Union (IGU) expects global liquefaction capacity to reach 700 mtpa by 2030, up 75% from 2023, driven by new FIDs and the start-up of other projects under construction.
Despite the EU's overall reliance on Russia dropping significantly, auditors say the EU is insufficiently prepared to weather a future gas crisis.
New restrictions aim to reduce Russia's profits from LNG, hitting the country's gas exports for the first time, but experts say it will likely have little impact on Russian revenues.
Crude prices declined despite signs of improving U.S. oil demand and falling fuel inventories that helped boost crude prices to a seven-week high a day earlier.
Stratas Advisors says the latest EIA report illustrates that U.S. production growth has stagnated with U.S. oil production remaining at 13.1 MMbbl/d, which is unchanged from the previous 12 weeks.
Here is a look at some of this week’s renewable energy news, including the International Energy Agency’s forecast on clean energy investment reaching $2 trillion this year.