Crude oil could soon swing into a deficit that will make next year a difficult one, Goldman Sachs said, as spare production capacity dwindles and underinvestment threatens future supply.
Goldman Sachs Warns Of An Imminent Oil Supply Shortage
Tag: crude oil
Russia’s “Sanction-Proof” Trade Corridor to India Frustrates the Neocons
by Conor Gallagher
Russia, Iran, and India are speeding up efforts to complete a new transport corridor that would largely cut Europe, its sanctions, and any other threats out of the picture. The International North-South Transport Corridor (NSTC) is a land-and sea-based 7,200-km long network comprising rail, road and water routes that are aimed at reducing costs and travel time for freight transport in a bid to boost trade between Russia, Iran, Central Asia, India.
Russia’s “Sanction-Proof” Trade Corridor to India Frustrates the Neocons
H/T: Alex Christoforou
The US wins the Ukraine war
by Gabor Steingart
The US supports Ukraine like no other country in the world. But this help is not completely selfless. Because even Joe Biden has nothing to give away. The US President relies on “arming on credit”. Germany, on the other hand, can only hope that the war will soon end not far from its front door.
The US wins the Ukraine war (original, in German)
Oil Prices Jump After Russia Says It May Cut Production
After two weeks of silence in detailing how it would react to the G7 oil price cap, overnight the Kremlin raised the stakes for the west when state-run Tass news service quoted Deputy Prime Minister Alexander Novak as saying that Russia may reduce output by 500,000 to 700,000 barrels a day in response to the cap.
Oil Prices Jump After Russia Says It May Cut Production
The Era Of Cheap Oil Has Come To An End
In its latest monthly report, OPEC revealed it had yet again failed to produce as much oil as it agreed to produce the last time it discussed output. And it wasn’t by a few thousand barrels per day, either. The shortfall was some 1.8 million barrels daily, but more importantly, that sort of undershooting of its own target has become a regular thing for the cartel. Meanwhile, the United States federal government needs to buy some oil for its strategic petroleum reserve after releasing close to 200 million barrels from it this year as a way of countering fuel price inflation. Yet U.S. drillers are not in a rush to boost production. On the contrary, it seems production growth has lost its place among these companies’ top priorities.
The Era Of Cheap Oil Has Come To An End
Previously:
U.S. Begins SPR Repurchase Program As Oil Prices Crash
The U.S. EIA reported that 4.7 million barrels of crude oil left the Strategic Petroleum Reserves in the week ending December 9, but now the United States has started the process of refilling the nation’s SPR.
U.S. Begins SPR Repurchase Program As Oil Prices Crash
Donald Trump’s Claims About Filling The SPR Are Not True
Last week, as expected, former President Donald Trump announced he is throwing his hat in the ring for the 2024 presidential election. The move was widely expected, and as he is prone to do, Trump made a number of questionable claims in the speech announcing his candidacy.
Donald Trump’s Claims About Filling The SPR Are Not True
Related:
No, Former President Trump Did Not Fill The Strategic Petroleum Reserve
Angry villagers, troops block US military convoy from advancing in Syria’s Hasakah
Local residents of a village in Syria’s northeastern province of Hasakah in cooperation with government forces prevented a US military convoy from advancing through their villages on Wednesday.
Angry villagers, troops block US military convoy from advancing in Syria’s Hasakah
The EU’s Embargo On Russian Oil Will Be A Boon For OPEC
The EU’s Embargo On Russian Oil Will Be A Boon For OPEC
- The current oil market climate is complex, to say the least.
- Europe is preparing to enact its embargo on Russian oil and refiners are scrambling for alternatives.
- Many searching for new sources of crude have landed on Middle Eastern producers as a potential alternative.
Eni CEO: Europe Will Have To Rely On U.S. Oil To Replace Russian Supply
Europe is set to increase its reliance on oil imports from the United States after the EU embargo on Russian seaborne crude imports enters into force in early December, Claudio Descalzi, chief executive of Italy’s energy group Eni, told Bloomberg in an interview on Monday.
Eni CEO: Europe Will Have To Rely On U.S. Oil To Replace Russian Supply
Ms. Cat’s Chronicles 
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