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• Oil Glut Will Prompt Faster Market Rebalance
  Everyone seems to be in agreement: global oil supply is greater than...
  Everyone seems to be in agreement: global oil supply is greater than the demand for the fuel. The consensus stands despite the fact that some of the world’s biggest storage hubs are far from overflowing. Now, many forecast even more production coming into this oversupplied market. It would only hasten the inevitable rebalancing.
  
  Kpler reported earlier this month that the amount of oil on tankers had risen to the highest level since 2020, reaching 1.3 billion barrels. But storage hubs in the Caribbean and South Africa are sitting half-empty, and inventories at Cushing, Oklahoma, are at their lowest since 2007. This is because, per Bloomberg, “the oil futures curve doesn’t currently make it profitable.”
  
  What this suggests is that demand might not be as weak as perceived; otherwise, storage hubs would be seeing a lot of activity right now. Instead, the oil sits on tankers, ready to set sail once it finds a buyer—and oil is finding buyers, including sanctioned oil.
  
  Source: OilPrice.com
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• US oil, gas royalty payment system needs reform, GAO says
  The Government Accountability Office has recommended that Congress and...
  The Government Accountability Office has recommended that Congress and the Interior Department shorten the time companies have to revise federal oil and gas royalty reports from six years to three years to improve oversight and revenue collection. The GAO warned that the current system often leaves regulators too little time to verify payments, raising the risk that not all royalties owed are collected. It also advised the Interior's Office of Natural Resources Revenue to formalize voluntary agreements with companies and create a centralized system to track such arrangements.
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• USACE backs continued Dakota Access operation
  In a long-anticipated Environmental Impact Statement, the US Army Corps...
  In a long-anticipated Environmental Impact Statement, the US Army Corps of Engineers recommended that the Dakota Access oil pipeline remain operational, but imposed requirements for spill prevention, environmental monitoring and emergency water supplies. The review concluded that a shutdown would harm the local economy. Tribal nations said the analysis overlooks safety risks, treaty rights and sovereignty concerns. Separately, the Federal Energy Regulatory Commission approved amendments to the Mountain Valley Southgate extension into North Carolina, including route and capacity changes.
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• ☕️What Else is Brewing Tuesday Morning
  Jim Beam to pause production at Kentucky distillery for 2026. The...
  Jim Beam to pause production at Kentucky distillery for 2026. The bourbon-maker said it would halt production at its main facility in Clermont, KY, for at least a year as of Jan. 1. It’s opting for a dry January (and rest of the year) at the distillery as bourbon supplies have increased despite US adults slowing their drinking, and as retaliation against President Trump’s tariffs has injected uncertainty into sales abroad. Distillers must calculate how much bourbon to make since it has to age in barrels for years before being bottled and sold—and the state of Kentucky charges taxes on those barrels. Suntory-owned Jim Beam said it would use the time to make improvements at the distillery. The company said the plant’s workers would be reassigned.
  
  President Trump announced that the Navy plans to build new battleships known as “Trump-class,” saying it will be “the fastest, the biggest, and by far 100 times more powerful than any battleship ever built.” The ships are part of the “Golden Fleet” the Navy is working to assemble.
  
  The prime ministers of Denmark and Greenland responded, “You cannot annex another country,” after President Trump appointed a special envoy to Greenland, who said he would make the semiautonomous territory “part of the US.”
  
  Instacart has stopped its controversial test of an AI tool that gave shoppers different prices for the same items at a store, following backlash from customers.
  
  Google parent Alphabet has struck a deal to buy data center and energy infrastructure company Intersect for $4.75 billion as tech companies seek out power for AI.
  
  The Kansas City Chiefs plan to move to a $3 billion domed stadium across the Kansas-Missouri state line as of the 2031 season.
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• DAILY OIL PRICE: December 22, 2025
  Crude Oil: 58.01   (+1.49)....
  
  
  • Crude Oil: 58.01   (+1.49).
  
  
  • Nymex MTD AVG: 57.9318.
  
  
  • Natural Gas: 3.965   (-0.019).
  
  
  • Gasoline: 1.7422   (+0.0340).
  
  
  • Spreads: February/March (+0.17)     March/April (+0.12).
  
  
  • Plains WTI Posting: 54.49   (+1.35).
  
  

  
  Note: The January Contract has expired, and the February Contract is now prompt. Today, the February Contract price increased by $1.49. Prompt month-to-month increased by $1.35.
  
  Source: Odessa American
  
  
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