OPEC Oil Data Show 3 Million-Barrel Shortfall on Saudi Supply Squeeze
(Bloomberg) -- Global oil markets face a supply shortfall of...
(Bloomberg) -- Global oil markets face a supply shortfall of more than 3 million barrels a day next quarter — potentially the biggest deficit in more than a decade — as Saudi Arabia extends its production cuts.
The latest data published by OPEC show why the kingdom’s supply squeeze, amid a period of record demand, has sent oil prices surging beyond $90 a barrel in London. Riyadh announced last week it will extend an extra 1 million-barrel-a-day output reduction until the end of the year, even though markets are already tightening.
Woodside's $7.2 Billion Bet on Deepwater Mexico Potential
Australia’s Woodside Energy is making a massive bet offshore Mexico at the large,...
Australia’s Woodside Energy is making a massive bet offshore Mexico at the large, high-quality conventional resource Trion development, which checks key production, climate, and financial boxes for both Mexico and partners Woodside and state-owned Petroleos Mexicanos (Pemex).
Of Trion’s $7.2 billion final investment decision (FID), Woodside’s share is $4.8 billion, including a $460 million capital carry of Pemex. First oil is expected to flow in 2028.
The US finalizes deal with Iran for release of five detained Americans, includes a waiver...
The US finalizes deal with Iran for release of five detained Americans, includes a waiver for international banks to transfer $6B in frozen Iranian funds from South Korea to Qatar (More) | American researcher rescued from Turkish cave (More)
Libya was hit with severe floods, and officials say as many as 2,000 people may be dead and 6,000 are missing.
The FDA approved updated Covid vaccines from Pfizer and Moderna that target the strain circulating now. They’re expected to be available by the middle of the month.
Google is going to court today to fight the Department of Justice’s allegations that it violated anti-monopoly laws.
Apple will unveil the iPhone 15 today. The biggest change is expected to be a USB-C charging port. RIP, Lightning connector.
Recently I saw a post that somehow the SPR will collapse if drained; perhaps the author referred to geomechanical risk related to caverns collapsing…but What if I told you that the US Strategic Petroleum Reserve (SPR) comprises of 60 STANDALONE salt-dome ~storage caverns located… pic.twitter.com/wgOtUCXdTE
S&P futures vs fair value: -12.00. Nasdaq futures vs fair...
S&P futures vs fair value: -12.00. Nasdaq futures vs fair value: -48.00.
The S&P 500 futures are down 11 points and are trading 0.2% below fair value. The Nasdaq 100 futures are down 48 points and are trading 0.3% below fair value. The Dow Jones Industrial Average futures are down 46 points and are trading 0.1% below fair value.
Equity indices in the Asia-Pacific region ended Tuesday on a mixed note. Japanese officials pushed back on yesterday's interpretation of Bank of Japan Governor Ueda's remarks, stressing that there is only a chance of exiting the negative rate regime this year. Property names in Hong Kong outperformed after Country Garden announced the restructuring of some of its debt. South Korea's President Yoon will look to organize a summit with Japan and China.
