Biden's Subdued Reaction to OPEC+ Cuts Foreshadows Economic Slowdown, Carries Risk
The Biden administration's tepid response reflects U.S. administration officials beliefs that the U.S. and global economies have entered a more predictable, less volatile phase.
What's Affecting Oil Prices This Week? (April 3, 2023)
On April 2, OPEC+ announced production cuts of 1.16 MMbbl/d beginning in May, in line with last week’s assessment that it would take unexpected good news like a production cut from OPEC+ to push the price of Brent above $80 and WTI above $75.
Oil Surges as OPEC+ Surprise Output Cuts Shake Markets
OPEC and their allies including Russia shook markets by announcing further production cuts of about 1.16 million barrels per day (bpd) on April 2, with Goldman Sachs raising its Brent price forecasts to $95 in 2023 and $100 in 2024.
Beyond the Pipe: CEO Greg Ebel on Enbridge’s Strategy for M&A, LNG and Transition
New Enbridge CEO Greg Ebel’s is expanding the "FedEx" of midstream across North America and around the globe through M&A, LNG investments and carbon capture.
Barcelona to Italy LNG Exports Rose 17-fold in 2022 Amid Ukraine War Impact
Spain increases supply as Italy seeks alternatives to Russian gas and January and February's 2023 traffic alone accounts for 45% of 2022 flows.
Oil Ticks Up as US Inflation Cools, But Set to End March Lower
Brent and WTI on track for losses of 5% and 3%, respectively, and producers are curtailing output in Kurdistan after a pipeline halt.
OPEC+ Unlikely to Tweak Oil Policy in April 3 Talks
Russia-led OPEC+ is holding a virtual meeting on April 3 to discuss cutting existing oil output.
Oil Rises on U.S. Crude Draw, Iraqi Supply Risks
Looking ahead, markets will be keeping an eye on U.S. spending and inflation data and the resulting impact on the value of the U.S. dollar.
What's Affecting Oil Prices This Week? (March 27, 2023)
While still facing some headwinds, Brent crude prices have recovered a portion of the significant downturn that occurred last week, ending the week at $74.99 after closing the previous week at $72.97.
WoodMac: China Demand Will Keep Oil Prices High, But Stable
As China reopens from uncompromising COVID protocols, Wood Mackenzie examines how the country’s GDP growth — even if it jumps to 7% — will likely keep oil prices stable.