The Petroleum Alliance of Oklahoma’s Post

https://lnkd.in/drJU35HV "Interestingly, over the medium-and long-term, only the International Energy Agency (IEA) sees global oil demand peaking before 2030." OilPrice.com Good point. Why does only the International Energy Agency (IEA) see the difference?

“The EIA is the most bullish on long-term oil demand, and has predicted a demand peak will come in 2050 while the OPEC Secretariat sees it coming five years earlier. Meanwhile, Standard Chartered has predicted global oil demand will hit 110.2 mb/d in 2030 and increase further to 113.5 mb/d in 2035. However, the commodity experts have not projected a demand peak beyond the end of their modeling horizon in 2035. According to StanChart, a structural long-term peak is very unlikely within 10 years despite a high probability of cyclical downturns over the period. StanChart has argued that the current gulf between demand views creates significant investment uncertainty which that's likely to force longer-term prices higher. In other words, the energy agencies appear to agree that an oil demand peak is nowhere on the horizon.”

#naturalgas Source: CME Group Last year, the U.S. became the world's largest exporter of liquefied natural gas (LNG), reinforcing Henry Hub as the global benchmark. This, combined with a volatile start to 2024 due to winter weather, has driven trading activity in Henry Hub Natural Gas futures and LNG Freight futures. Henry Hub Natural Gas futures open interest is up 19% from 2019, with trading in on-screen options also experiencing record growth at an ADV of 185K contracts. Read our latest article from Adila McHich and Paul Wightman of CME Group as they discuss the current and future trends of the everchanging LNG market.  https://lnkd.in/g6HzMszn

Oil Prices Surge While Natural Gas Slides; Energy Majors' Gains Slowdown 📊 In our latest research note, we delve deep into the recent dynamics shaping the energy sector, uncovering significant trends and movements. This comprehensive analysis provides crucial insights into the current market landscape, helping you stay informed and ahead of the curve, writes Suhas Reddy. Our report covers critical aspects of the energy markets, including: 🔹 Crude Oil Inventory Drop: The US crude oil inventory experienced a dramatic decline of 12.2 million barrels for the week ending June 28th, marking the biggest drawdown since July 2023. We analyze how this substantial decrease has driven oil futures and influenced market strategies. 🔹 Natural Gas Downtrend: Despite recent heatwaves increasing electricity demand, Henry Hub prices continued their decline, influenced by cooler weather forecasts and surplus storage. Our report delves into the factors behind this trend and its implications for the market. 🔹 Energy Majors in Focus: Stay updated on the latest developments among key players such as BP, Chevron, and Saudi Aramco. From contract awards and strategic shifts to investment outlooks, we provide a thorough overview of how these energy giants are navigating current market conditions. 🔹 Volatility Trends: We also explore recent changes in market volatility for WTI and Henry Hub. Understanding these volatility trends is essential for grasping the current and future market movements. This in-depth report offers a comprehensive analysis of these crucial trends and their implications for the energy markets. 🔍 Want to understand these trends and their broader implications? Dive into our full paper for detailed insights and expert analysis. 👉 Read the Full Report at Smartkarma  https://lnkd.in/gTHFjJbF #EnergyMarkets #CrudeOil #NaturalGas #OilPrices #InvestmentInsights #EnergySector #MarketTrends #SaudiAramco #Chevron #BP #Shell #TotalEnergies

Good news for those interested in investing in oil wells! According to a recent article on Oil Price, the peak of oil demand is not expected to happen for another six years or more. This is great news for anyone looking to invest in the industry. Check out the article below for more information. Link: https://lnkd.in/eV7w2jmb

In the continuing series of energy industry headlines that many people did not expect to see there is this one: crude oil prices up, natural gas prices down. After all, aren't we transitioning away from crude oil towards natural gas and renewables? But as usual, any energy transition discussion is not linear. In this case, partly because of the glut in supply due to the unseasonably warm winter in parts of Canada, natural gas prices have dropped. On the other hand oil prices have marched higher over the past month and talk of $100-a-barrel crude is in the air. For Canada’s oil and gas sector, 2024 is shaping up to be a tale of two commodities that are heading in distinctly different directions. (For younger people, that's a reference to a famous book called A Tale of Two Cities by Charles Dickens. Books were these things made of paper we used to read.) Why is a temporary blip like this important? Because building new energy infrastructure, and even operating existing infrastructure, takes time and money to develop and maintain. You justify spending on infrastructure based on expected demand. So disruptions in demand make it harder to avoid disruptions in supply. As Chris Varcoe at the Calgary Herald points out in this artile, south of the border, some U.S. producers are shutting in their gas. In Canada, a handful of firms have deferred gas drilling or have shifted spending to oil. And a new forecast by energy analytics firm Enverus projects that global oil demand will not peak this decade — as some agencies have predicted — but is expected to continue rising. Some forecasters are raising their projections, saying oil prices could near or even top $100 a barrel at some point this year, although it would likely be short-lived. All at a time when production forecasts for electric vehicles are no longer as straight line as many people expected. An interesting time to be in the energy consumption forecast business.

Over the last decade, the United States has established itself as the world’s top producer of crude oil, surpassing Saudi Arabia and Russia. This infographic illustrates the rise of the U.S. as the biggest oil producer, based on data from the U.S. Energy Information Administration (EIA).

#America producing hydrocarbons like never before. The annoying part of it all is telling other countries, especially Africa that is lacking in energy to reduce or stop producing the commodities like oil and gas that generates revenue for it people. A lot of promises had been made in different meetings to finance renewable energy projects in #africa in order to reduce carbon emission footprint, but those promises have not been fulfilled. It's glaring that less effort is been put compared to the magnitude of change the world need to transit to renewable energies. The world leaders can not be speaking from both sides of their mouths and claim to be saving the planet. It complete hypocrisy. I can see why countries like #china ignore this types of hypocrisy and go ahead using energy source like coal that allign with their immediate economic interest. #energymanagement #oilgas #lng

This week's energy market update: Gas and power prices have edged higher this week, supported by wider supply concerns. On Tuesday, it was reported that Chevron’s Wheatstone gas production platform in Australia needed to be taken offline for emergency repairs. This heightened concerns surrounding competition for LNG as Asian demand is already elevated due to several countries experiencing heat waves. On Thursday, it was announced that the facility would need to be offline for weeks rather than days, providing the market with further bullish momentum. The latest reports indicate that the facility will be offline until June 27th. Although the summer supply situation is comfortable for the UK and Europe, longer-term supply concerns alongside risk surrounding the winter added to the upside. Prices did later find some technical resistance, however, limiting weekly update. In the wider commodity market, the price of Brent crude oil is on track to end the week higher, seeing its largest increase in two weeks. The market has found support from strong global demand forecasts from OPEC, whilst Goldman Sachs also reinforced their view that US fuel demand will be higher this summer. Further support has come from Russia, who have pledged to reduce output in June to compensate for overproduction in May. The market has since settled as it continues to digest the impact of US interest rates staying higher for longer and the result that this may have on global oil demand. #energymarket #energymarketupdate

https://lnkd.in/ezN3xbF4 #energysecurity #oil #energy #oilproduction "Over the last decade, the United States has established itself as the world’s top producer of crude oil, surpassing Saudi Arabia and Russia."