Last week’s surprise decision from OPEC+ to ease the production cuts by a cumulative 2 million barrels per day (bpd) by July relies on expectations of robust oil demand recovery in the second quarter. Yet, recent demand concerns suggest the alliance’s supply management policies could once again be more in the realm of guestimates.
The easing of the collective cuts by over 1 million bpd over the next three months…
Crude oil could hit $100 and top it, and this could happen before this year’s end, according to Craig Johnson from investment bank Piper Sandler.
Speaking to CNBC, Johnson said, “I could actually see a number that could be north of 100 in the next, say, six to … 12 months from here,” noting the still strong upside potential of crude. “To us, it looks like you could have…
Natural gas liquids (NGLs), a byproduct of oil and gas production, could benefit from global demand and supply disruptions in 2021, paving a path for rising prices as the year wears on, analysts at Raymond James & Associates Inc. said in a new forecast.
“We still think U.S. NGLs have a pretty bullish set-up, similar to U.S. natural gas,” the Raymond James team said. “We continue to believe the relative U.S. NGL supply headwinds…
In the wake of last month’s record-high natural gas prices in the physical market, the Energy Information Administration (EIA) is raising its projected 2021 Henry Hub spot price average to $3.14/MMBtu.
The updated projection, issued on Tuesday as part of the agency’s latest Short-Term Energy Outlook (STEO), is nearly 20 cents higher than the $2.95 average…