Post Tagged with: "Demand"

Source: CNBC

Goldman says oil could hit $100, demand might reach ‘new record high’ in the next two years

CNBC


Goldman Sachs predicts a new high in oil demand in 2022, and again in 2023.

Damien Courvalin, the investment bank’s head of energy research, also said Friday that oil at $100 per barrel was a possibility.

Oil demand was …

Source: Fox Business

Lithium prices soar, turbocharged by electric-vehicle demand and scant supply

Fox Business


Lithium prices are rising at their fastest pace in years, setting off a race to secure supplies and fueling worries about long-term shortages of a vital ingredient in the rechargeable batteries that power everything from electric vehicles to …

Source: Reuters

OPEC misses crude output targets, straining global oil supply

World Oil


(Bloomberg) –OPEC and its allies once again failed to pump enough oil to meet their output targets, exacerbating the supply deficit as the world recovers from the coronavirus pandemic.

OPEC+ cut its production 15% deeper than planned in …

Source: Reuters

Volatile energy markets are here to stay, global watchdog warns

CNBC


Energy prices around the world are at record highs as a power crunch hits Europe and Asia — and the International Energy Agency warned Wednesday that volatility is here to stay.

In its annual report, the Paris-based agency said …

Source: Reuters

OPEC trims 2021 demand forecast but says gas price surge could help

Reuters


LONDON -OPEC has trimmed its world oil demand growth forecast for 2021 while maintaining its 2022 view, its monthly report showed on Wednesday, but it said surging natural gas prices could boost demand for oil products as end users …

Source: CNBC

Even with current drive to renewables, CO2 emissions will grow through 2050, says U.S. government

CNBC


Even with the current drive toward more renewable energy sources, global carbon emissions are going to increase through 2050, unless there are significant changes in policy or technology between now and then.

 

That’s according to a new report

Source: Reuters

Saudis cut oil prices after OPEC+ restraint fuels rally

World Oil


(Bloomberg) –Saudi Arabia reduced oil prices for its main buyers, a day after OPEC+ sent crude futures surging by sticking to a plan for slow and steady supply increases.

State firm Saudi Aramco’s cuts for customers in Asia, …

Source: Reuters

COLUMN-How high are oil prices really? Kemp

Nasdaq


How high are oil prices really and what signal are they currently sending to producers and consumers about the need for more output and lower fuel use?

The strength of a price signal depends on both the real level …

Source: Reuters

Column-Oil prices climb with little help from hedge funds: Kemp

Reuters


LONDON – Prolonged disruption to oil production in the Gulf of Mexico and multiplying signs of a worldwide energy shortage have not been enough to encourage significant new petroleum buying from portfolio investors.

Hedge funds and other money managers …

Source: Reuters

Column: Demand only one side of LNG price surge, supply cut by outages

Reuters


LAUNCESTON, Australia  – The spot price of liquefied natural gas (LNG) in Asia is usually at a seasonal low in August in what is historically the shoulder season between summer and winter peak demand.

That the price of spot …

Source: Reuters

Column: Hedge funds took profits as U.S. oil price hit highest in more than six-years

Reuters


LONDON – Portfolio managers took profits on their bullish petroleum positions after OPEC+ failed to reach agreement on increasing production and U.S. oil prices hit their highest level since late 2014.

Hedge funds and other money managers cut their …

Source: Reuters

Column: Supply struggles, not just demand, are fuelling LNG’s price surge

Reuters


LAUNCESTON, Australia – The rally in spot liquefied natural gas (LNG) prices in recent weeks has been framed as being led by robust demand in Asia and in Europe as the northern hemisphere deals with hotter-than-usual temperatures.

Although this …

Source: Reuters

Oil on track for fifth weekly gain on strong demand

Reuters


LONDON -Oil prices rose on Friday, and were on track for a fifth consecutive weekly gain on expectations demand growth will outstrip supply and OPEC+ producers will be cautious in returning more supply to the market from August.

Brent …

Source: Reuters

Crude oil prices steady near multi-year highs

Reuters


LONDON -Crude oil prices hovered near multi-year highs on Thursday, buoyed by falling U.S. crude inventories which limited the impact of a stronger U.S. dollar.

Brent crude oil futures dropped 12 cents, or 0.1%, to $74.27 a barrel by …

Source: Reuters

Oil hits fresh multi-year highs on demand recovery

Reuters


NEW YORK -Oil prices edged up to multi-year highs on Friday, heading for a third straight week of gains on the improved outlook for worldwide demand as rising vaccination rates lead to a lifting of pandemic curbs.

Brent crude

Source: Reuters

OPEC+ sticks to plans to ease oil cuts – sources

Reuters


LONDON -OPEC+ oil producers agreed on Tuesday to stick to the existing pace of gradually easing supply curbs through July, as they sought to balance expectations of a recovery in demand against a possible increase in Iranian supply.

The …

Source: Reuters

Oil prices jump but India coronavirus cases weigh

Reuters


LONDON – Oil prices rose on Friday, reversing some of the previous day’s sharp losses as stock markets strengthened and the U.S. dollar slipped, though gains were capped by the coronavirus situation in major oil consumer India.

Brent crude …

Source: CNBC

National gas average tops $3.02 a gallon as hacked pipeline slowly restarts

CNBC


Gas prices have jumped more than 8 cents in the last week as the Colonial Pipeline shutdown disrupted a crucial artery in the U.S. petroleum industry.

The company said it began to restart operations around 5 p.m. ET Wednesday …

Source: Reuters

Oil prices rise 2% on fuel demand optimism

Reuters


NEW YORK -Oil prices rose 2% on Wednesday, after U.S. distillate inventories posted a large drawdown and refining activity picked up, boosting hopes for rising fuel demand.

The market remained concerned, however, about India’s surging coronavirus cases.

Brent crude …

Source: Reuters

OPEC raises 2021 oil demand growth forecast on hope pandemic wanes

Reuters


LONDON -OPEC on Tuesday raised its forecast for growth in world oil demand this year on expectations the pandemic will subside, providing help for the group and its allies in their efforts to support the market.

Demand will rise …

April 13, 2021 - 10:38 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

Column: Ensuring the energy transition is equitable

Reuters


LONDON  – Phasing out consumption of fossil fuels in favour of zero-emission sources of energy will cause major social and economic disruption, creating a large number of losers as well as winners.

Policymakers have begun to focus on the …

Source: Reuters

Oil prices dip after OPEC+ agree to ease output cuts

Reuters


SINGAPORE -Oil prices slipped on Monday, paring strong gains made in the previous session after OPEC+ agreed last week to gradually ease some of its production cuts between May and July.

Brent crude futures for June fell 33 cents, …

April 5, 2021 - 9:00 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

Oil producers eye long road to recovery as Texas begins to thaw

Reuters


NEW YORK – Shale oil producers in the southern United States could take at least two weeks to restart the more than 2 million barrels per day (bpd) of crude output that shut down because of cold weather, as …

Source: Reuters

Oil prices close to 13-month highs, supported by Texas cold snap

Reuters


LONDON- Oil prices hovered near 13-month highs on Tuesday, supported by a U.S. cold snap that shut wells in the oil-producing state of Texas, though gains were capped by a Norwegian wage deal that averted supply disruptions in Europe.…

Source: Reuters

Oil hits 13-month highs as market re-balances

Reuters


LONDON – Oil prices soared on Monday to their highest in about 13 months as vaccine rollouts promised to revive demand and producers kept supply reined in.

Brent crude was up 88 cents, or 1.4%, at $63.31 a barrel …

Source: Reuters

Oil gains on hopes for improving demand

Reuters


LONDON – Oil prices climbed on Tuesday as optimism that government stimulus will eventually lift global economic growth and oil demand trumped concerns that renewed COVID-19 lockdowns are cooling fuel consumption.

Brent crude futures for March rose 73 cents, …

Source: Reuters

Oil falls on coronavirus fears, strong dollar

Reuters


LONDON – Oil prices fell on Monday as a stronger dollar, fears over soaring COVID-19 cases around the world and the slow pace of vaccination against the virus outweighed a better-than-expected quarterly rebound for China’s economy.

Brent crude was …

Source: Reuters

Battered energy sector could get reprieve from ‘golden cross’ chart signal

Reuters


Energy, Wall Street’s worst performing industry in 2020, could see its fortunes improve in the new year after its price action surfaced a technical buy signal on the charts on Wednesday.

The bullish development in S&P 500 energy sector …

December 31, 2020 - 2:30 pm Commodity Pricing, Crude Oil News, Energy News
Source: Reuters

Exxon signals up to $20 billion writedown to overwhelm 4th-qtr gains in oil, chemicals

Reuters


HOUSTON  -Exxon Mobil Corp signaled in a regulatory filing that higher oil and gas prices and improved chemicals margins would aid fourth quarter results, but the gains would be overshadowed by an up to $20 billion asset writedown.

The …

Source: Reuters

OPEC+ weighs oil cuts extension, sees weaker compliance

Reuters


DUBAI/LONDON – OPEC and allies including Russia are leaning towards postponement of a planned January increase to oil output by at least three months to support prices as the COVID-19 pandemic continues its second wave, sources told Reuters on …