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Chevron (CVX.US) CEO criticizes the US's suspension of approval for new LNG export projects and accuses Biden of 'damaging' energy security.
Chevron CEO Mike Wirth criticized the Biden administration's "attack on the natural gas" industry and the decision to stop issuing new liquefied natural gas export permits, stating that this will increase energy costs, threaten the supply of US allies, and increase emissions by slowing the transition from coal to natural gas.
How to view the "historically pessimistic" oil price, goldman sachs: short but long!
Goldman Sachs expects that Brent crude oil will recover to $77 per barrel in the fourth quarter of this year, as the market's overly pessimistic sentiment towards oil demand improves and the OECD inventory remains slightly below normal levels, providing some support for oil prices. However, over time, the market's pessimistic expectations for supply and demand balance are gradually increasing, putting further pressure on oil prices next year.
Oil Rises on U.S. Rate-Cut Expectations, Output Concerns -- Market Talk
Mizuho Adjusts Price Target on Marathon Oil to $32 From $34, Maintains Neutral
Oil prices rebounded before the Federal Reserve interest rate decision, and it is feared that the bulls will have a difficult time causing a major storm.
Nearly 20% of crude oil production in the Gulf of Mexico in the United States has been halted, and with the imminent interest rate cut by the Federal Reserve, it has provided support for oil prices, but the market may still remain cautious.
Mizuho Maintains Neutral on Marathon Oil, Lowers Price Target to $32