Oil 12 (Feb 21 - Sep 23)

[behappyalways]

Buyer Finally Emerges For Russian Oil Offered At A Record $28 Discount
https://www.zerohedge.com/markets/buyer ... 8-discount

[winston]

Oil Is a Buy? Really?

Oil supply increases are lagging behind demand

By Eric Fry

During the last few months, OPEC has not been able to increase supplies as much as “promised” because some of its members like Nigeria and Angola have struggled to boost production.

Global investments in oil and gas exploration and production peaked eight years ago and has plummeted about 65% since then.

The supply picture will not improve until after multiple years of increasing investment.

Therefore, the only factor that could “rescue” the oil market and halt crude prices in their tracks would be a sharp drop in demand.

The U.S. Energy Information Administration says the total number of internal combustion vehicles on the world’s roads will not peak until 2038.

The International Energy Agency (IEA) expects worldwide oil demand to be at least 25% higher in 2050 than it is today.

Source: Fry's Investment Report

https://investorplace.com/smartmoney/20 ... 6OJc9o/h4=

[winston]

History suggests oil shock raises probability of US recession

Historically, a surge in crude-oil prices of this magnitude have ended US economic expansions and tipped the US economy into recession, according to Pictet Asset Management.

In the past 50 years, every time oil prices, adjusted for inflation, rose 50 per cent above trend, a recession followed, data from Luca Paolini, chief strategist at Pictet, show.

Brent, the international gauge for prices, topped US$110 a barrel this week, crossing that threshold on worries about disruption to Russia's exports after the country invaded Ukraine.

Brent has rallied more than 45 per cent this year to decade highs.

West Texas Intermediate (WTI), the US gauge, has climbed nearly 50 per cent in 2022.

Source: Phillips

[behappyalways]

Following Global Outrage, Shell Says It Only Bought Russian Oil After "Intense Talks With Governments"
https://www.zerohedge.com/markets/follo ... ense-talks

[winston]

Oil could hit US$200 a barrel, says Rystad Energy

Global oil prices could rise to US$200 a barrel if Europe and the United States ban imports of Russian oil.

A return of Iranian crude to the market remains far from certain.

Rystad Energy analysts said the US$200 estimate was based on an assumption that Western sanctions could remove about 4 million barrels per day (bpd) of Russian crude.

Russia, the world's second-biggest oil exporter, ships about 7 million bpd of crude and oil products combined.

Source: Reuters

https://www.businesstimes.com.sg/energy ... tad-energy

[winston]

Soaring prices set stage for eventual reversal of oil, gas demand

by Sabrina Valle, Arathy Somasekhar, Liz Hampton & Alexander Shummer

60 million barrels already released from strategic reserves were not enough.

There is not enough spare capacity worldwide to compensate for the loss of Russian oil.

Source: Reuters

https://www.theedgemarkets.com/article/ ... gas-demand

[behappyalways]

Saudis, UAE Refuse To Take Biden's Calls To Discuss Ukraine Situation, Talk To Putin Instead
https://www.zerohedge.com/geopolitical/ ... -situation

[winston]

Crude Will Soon Crash

by Steven Van Metre

History shows that when crude oil prices get too high, they come crashing straight down.

Source: Epoch Times

https://www.theepochtimes.com/crude-wil ... myqaaQY%3D

[behappyalways]

China Asks State-Owned Refiners To Halt Gasoline, Diesel Exports
https://www.zerohedge.com/markets/china ... el-exports

[behappyalways]

Global Diesel Shortage Raises Risk Of Even Greater Oil Price Spike
https://www.zerohedge.com/energy/global ... rice-spike