Markets

Red Sea Disruptions Prompt Temporary Fragmentation as Traders Bolster Bullish Bets on Oil.

After prices for crude benchmarks fell in the previous week thanks to news that a ceasefire in Gaza was likely, they climbed due to reports indicating that the ceasefire proposal had been rejected.

In 2023, US crude exports soared to a record 4.06MM b/d, marking a 14% increase from the previous year and reaching 4.06MM b/d.

The US EIA and BMI, a Fitch Solutions company, have disclosed their latest forecasts for Brent oil prices, shedding light on the intricate landscape of the oil and gas market.

A recent survey conducted by S&P Global Platts has revealed that oil production within the OPEC+ group experienced the most significant drop in six months during Jan.

Norway's oil dynamics are undergoing pivotal changes, marked by unexpected projections for the decline of Europe's top oil field, Johan Sverdrup, and Equinor's commitment to stable production up to 2035.

India, a growing consumer and importer in the global energy landscape, maintains a strategic balance in its crude oil imports, forging partnerships with key producers worldwide.

In a seismic shift, Spain, once reliant on Nigerian crude, underwent a pivotal change in 2023, making the US its leading crude supplier.

Guyana is on track to produce 1.2MM b/d by 2027, according to Minister of Natural Resources Vickram Bharrat.

Petrobras Chief Executive, Jean-Paul Prates, expressed the company's preparedness for the challenges of the energy transition and the global oil crisis during a meeting with investors in New York.