Summary Supply growth to outpace demand growth in 2027, IEA says Will offer chance to replenish depleted global inventories Gulf oil flows about 12 million bpd in early June (Reuters) – The oil market will move into a significant supply surplus in 2027 after recovering from the closure of the Strait of Hormuz, the International …
IEA Sees Significant 2027 Oil Surplus After Hormuz Recovery Read More »
Developing world won’t completely entrust energy security to the US, says Cheniere Energy’s CFO Cheniere Energy does not expect developing countries to rely solely on the U.S. for their energy security, its Chief Financial Officer, Zach Davis, said on Tuesday. “I don’t see many countries in the developing world, especially at this moment in time, …
By EnergyNow Editorial Staff The U.S. Strategic Petroleum Reserve (SPR) is the world’s largest government-owned emergency crude oil stockpile. It was created after the 1973 Arab oil embargo to protect the United States from severe oil supply disruptions caused by wars, natural disasters, geopolitical crises, or major market shocks. The reserve is managed by the …
Reuters A $300 billion private fund designed to trigger investment into Iran is outlined in the U.S.-Iran framework agreement and more than half that sum has already been committed, a source with direct knowledge of the deal told Reuters. The fund is designed to give both sides an economic incentive to conclude a final deal, …
Analysts call for more pipeline capacity amid tightening global heavy oil market By Will Gibson Alberta’s oil sands have emerged as one of North America’s most attractive oil plays as costs rise in competing basins like the Permian in Texas, according to a recent report. The oil sands hold 177 billion barrels of proved reserves, making it the …
U.S. spot natural gas prices for Tuesday at the Waha Hub in West Texas turned positive for the first time since early February as demand for the fuel rises with the coming of the summer air conditioning season and energy firms start to wrap up spring pipeline maintenance. Electric companies burn more gas as homes …
Goldman Sachs lowered its fourth-quarter Brent crude oil price forecast to $80 from $90 and cut its 2027 average estimate to $75 from $80, after the U.S. and Iran signed a preliminary agreement to reopen the Strait of Hormuz. Analysts at the investment bank said in a research note released late on Monday they …
Goldman Lowers Oil Price Forecasts on Deal to Reopen Strait of Hormuz Read More »
Morgan Stanley has lowered its Brent crude oil price forecast for the fourth quarter of this year by $15 per barrel to $80, after the U.S. and Iran signed a preliminary agreement to end the war in the Gulf. “From here, it likely takes several weeks for tanker flow to be restored; we see 50% …
Morgan Stanley Lowers Brent Oil Price Forecasts After US-Iran Peace Deal Read More »
Never bet against Donald Trump? The oil market appears to have made a risky wager from day one of the Iran war: The U.S. president would not allow the conflict to spiral into a full-blown economic crisis. So traders wouldn’t price one in, no matter what was happening with physical supplies. It was a risky …
TACO CONFIRMED: Oil Markets Bet Trump Would Chicken Out on Iran. They Won: Bousso Read More »
Abu Dhabi National Oil Company (ADNOC) has sold at least 30 million barrels of spot crude to Asian refiners and trading firms so far this month and offered more this week, trade sources said, boosting exports during the U.S.-Iran ceasefire. The United Arab Emirates producer sold cargoes of Das, Upper Zakum and Umm Lulu …
ADNOC Sells at Least 30 Million Barrels Crude in Supply Boost, Sources Say Read More »
