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Petroleo Brasileiro SA Petrobras Newsroom
Biden has banned new offshore oil drilling along the Atlantic and Pacific coasts of the USA, and it will be difficult for Trump to reverse this decision.
① Biden has permanently prohibited oil companies from obtaining new Oil & Gas drilling leases in approximately 0.625 billion acres of offshore waters; ② The US Energy industry has expressed dissatisfaction and called on Trump to use all tools to overturn this policy; ③ Due to legal restrictions, Trump finds it difficult to simply reverse Biden's decision, while some Republican politicians in coastal states also support this policy.
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Oil prices have risen for five consecutive times, Energy stocks lead the rise in U.S. stocks. What is the market anticipating?
The rise in oil prices is mainly due to the market's expectation of the Trump administration's upcoming sanctions against Iran, Venezuela, and Russia, which will lead to a reduction in Global Crude Oil Product supply, causing Energy Stocks to strengthen and become the stocks with the largest increase this week.
Goldman Sachs: It is expected that Iran's oil supply will decline before Q2, with Brent crude oil projected to reach $78 in June.
Goldman Sachs predicts that Iran's Crude Oil Product production will slightly decrease on Friday.
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Attention Oil & Gas Industry! Biden is about to make a big move, and this time Trump might have no solution...
① The President of the USA, Biden, is said to be issuing an executive order to permanently ban new offshore Oil & Gas development in certain coastal waters of the USA to ensure these areas have eco-friendly protection for coastal regions. ② This order is based on a 72-year-old law that grants the White House broad discretion to permanently protect USA waters from the impacts of Oil & Gas leasing.
Before Trump took office, Biden would prohibit more offshore oil drilling.
According to informed sources, Biden will issue an executive order in a few days to prohibit the sale of new drilling rights in certain areas outside the continental shelf of the USA, but Trump is expected to order the repeal of these protective measures.
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Express News | Petroleo Brasileiro SA Petrobras will increase the price of Aviation RBOB Gasoline by 7% starting from January 1.
EIA Crude Oil Product inventories decreased by 1.178 million barrels month-on-month, a decrease lower than market expectations.
In the USA, commercial Crude Oil Product inventories excluding the Strategic Reserve decreased by 1.178 million barrels to 0.416 billion barrels, the lowest level since the week of September 20, 2024, with a decline of 0.28%.
Oil Gains In 2025's Opening Session Amid Inventory Declines
USA liquefied Henry Hub Natural Gas demand reached a record high, with expectations for continued growth in 2025.
Preliminary data from financial company LSEG shows that on Tuesday (the last day of 2024), the market demand for Henry Hub Natural Gas at US liquefied natural gas production facilities hit a record high, reaching 0.43 billion cubic meters per day.
Gold Trade, 2025 Oil Market Outlook: Catalysts
2025 Crude Oil Product market outlook: Wall Street is pessimistic, and oil prices may head straight for 60 dollars?
① Due to the increase in global supply, many Wall Street Analysts believe that Crude Oil Product prices will show a downward trend in 2025; ② JPMorgan predicts that the average price of Brent Crude Oil will fall to $73 per barrel in 2025, while Bank of America forecasts that oil prices may drop to $65 per barrel in 2025; ③ The Organization of the Petroleum Exporting Countries (OPEC) may decide to increase Crude Oil Product supply in 2025.