⚠️🇺🇸#inflation #us #history #oil #geopolitics
US inflation today and during the oil crisis in 1973
during that time, Arab countries, OAPEC members, along with Egypt and Syria, announced their refusal to supply oil to nations (UK, Canada, the Netherlands, US, Japan) that had backed Israel during the Yom Kippur War in its confrontation with Syria and Egypt.
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JPMorgan: in the U.S., a new inflation wave, akin to the 1970s, might be looming - details
US inflation today and during the oil crisis in 1973
during that time, Arab countries, OAPEC members, along with Egypt and Syria, announced their refusal to supply oil to nations (UK, Canada, the Netherlands, US, Japan) that had backed Israel during the Yom Kippur War in its confrontation with Syria and Egypt.
——————————
JPMorgan: in the U.S., a new inflation wave, akin to the 1970s, might be looming - details
🛢🇺🇸#oil #us #costprice
BBG: cost of oil shale in the US has significantly increased. American shale producers need oil to be around $86 a barrel
BBG: cost of oil shale in the US has significantly increased. American shale producers need oil to be around $86 a barrel
⚠️🛢#oil
oil market glut threatens to push prices lower this year. At issue is rising crude production from non-OPEC+ nations including the US, which could outstrip global demand that’s still growing but at a slower pace. The oil cartel’s response has been to pledge deeper output cuts, but traders are skeptical they’ll be sufficiently implemented to fully eliminate a surplus — BBG
US total crude oil production = Record
oil market glut threatens to push prices lower this year. At issue is rising crude production from non-OPEC+ nations including the US, which could outstrip global demand that’s still growing but at a slower pace. The oil cartel’s response has been to pledge deeper output cuts, but traders are skeptical they’ll be sufficiently implemented to fully eliminate a surplus — BBG
US total crude oil production = Record
❗️🛢#oil #forecast #macro
the oil market could be heading for a supply crunch from 2025 onwards as oil exploration fails to keep pace with demand — Occidental CEO
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earlier, OPEC estimated the total investment needed in the oil sector by 2045 to be $14T #capex
BP: investment in oil and gas production will still be required for the next 30 years
⚠️ but Doomberg asserts that the world is moving into an era of hydrocarbon oversupply
the oil market could be heading for a supply crunch from 2025 onwards as oil exploration fails to keep pace with demand — Occidental CEO
————————
earlier, OPEC estimated the total investment needed in the oil sector by 2045 to be $14T #capex
BP: investment in oil and gas production will still be required for the next 30 years
⚠️ but Doomberg asserts that the world is moving into an era of hydrocarbon oversupply