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Oil Headed for Weekly Gains as Sanctions Outlook Raises Supply Worries -- Market Talk
Under pressure from the threat of Trump's trade war? Canada is considering imposing tariffs on Uranium, oil, and potash as retaliation.
Canada is the largest external source of oil supply for the USA and also the largest external source of Uranium for USA nuclear power plants. The potash produced in the western provinces of Canada is an important source of fertilizer for USA farms. The media reports that imposing export taxes on these Commodities is Canada's most desperate choice, and Canada is more likely to impose retaliatory tariffs on imported USA-manufactured goods, as well as implement export controls on certain Canadian products.
IEA Monthly Report: Even if OPEC+ delays production increases, there will still be an oversupply of oil next year!
The IEA stated that if OPEC+ implements the production recovery plan starting in April, the Global market will face a surplus of 1.4 million barrels per day. The IEA has raised the forecast for global oil demand growth in 2025 by 90,000 barrels to 1.1 million barrels, mainly due to the economic stimulus measures recently announced by China.
Crude Oil Jumps Back Above $70 as US Inventories Fall to Lowest Level
The largest Crude Oil Product supply agreement between India and Russia is coming! It is reported that Reliance will purchase 0.5 million barrels of Russian oil daily.
① The Russian state-owned oil company Rosneft is reportedly set to supply nearly 0.5 million barrels of Crude Oil Product per day to India's Reliance Industries; ② This agreement will last for 10 years, with an annual supply accounting for 0.5% of the Global market, valued at 13 billion dollars based on current oil prices. ③ This will be the largest Energy cooperation agreement in the history of India and Russia.
Afternoon Crude Oil Product analysis: USA crude oil inventories have plummeted, can oil prices continue to rise?
The US Energy Information Administration (EIA) reported that for the week ending December 6, US Crude Oil Product inventories decreased by X thousand barrels...
OPEC has lowered the forecast for this year's global oil demand growth for the fifth consecutive month.
The oil organization (OPEC) released its monthly report, lowering the global oil demand growth forecast for this year for the fifth consecutive month, with the largest downward adjustment among the five revisions.
Oil Settles Up US$1 As EU Agrees Further Sanctions
Weekly Crude Inventories Fall More Than Expected; Oil Prices Rise Despite OPEC Cutting Demand Outlook
Oil Extends Gains After U.S. Crude Stocks Draw -- Market Talk
US Total Crude Oil Stocks Decline in Week Ended Dec. 6
OPEC has cut its oil demand forecast for the fifth consecutive month, with the largest reduction to date.
OPEC has lowered its forecast for Consumer growth in 2024 by 0.21 million barrels per day to 1.6 million barrels per day. Since July, OPEC has reduced its forecast by 27%. Analysts believe that OPEC's forecast still exceeds the general market expectations and there is a gap with this year's actual Consumer data.
Why BP P.l.c. (BP) Is One of the Most Undervalued Natural Gas Stocks to Buy According to Analysts?
OPEC Cuts Forecast of Oil-demand Growth for 2024, 2025
OPEC Further Trims Oil-Demand Forecast After Output-Hike Delay
Market Chatter: BP, Shell, Others Sought by Oman for Investment in Latest LNG Project
Express News | Market news: Oman will seek to negotiate with BP PLC and Shell to secure the latest liquefied Henry Hub Natural Gas project.
Oil Prices Edge Higher on China Stimulus Hopes -- Market Talk
European oil giants face numerous challenges in their transformation and are reducing their Electrical Utilities businesses.
① BP PLC and Shell, two European oil companies, recently announced a reduction in their investments and business layout in the Electrical Utilities Industry; ② High inflation, high interest rates, supply chain disruptions, and changing investor attitudes in Europe have caused Energy companies' transformation costs to exceed expectations; ③ Other European oil companies are also readjusting their Global Strategy for the Electrical Utilities business.
Equinor, BP, TotalEnergies to Move Forward With U.K. Carbon Capture Projects