Citigroup Inc. warned that crude oil could fall to $65 per barrel by the end of this year, and then plummet to $45 by 2023 if there is a recession.
Citi Says Oil May Collapse to $65 by the Year-End
JPMorgan Sees “Stratospheric” $380 Oil on Worst-Case Russian Cut Crude Output
JPMorgan Chase & Co. analysts warn that global oil prices could rise to a “stratospheric $380 per barrel” if sanctions from the US and Europe prompt Russia to inflict retaliatory
The record-breaking 23 months in which the US has added oil and gas drilling rigs – Baker Hughes
U.S. energy companies added oil and natural gas drilling rigs this week for the second consecutive week, a record 23-month run of increases. This was due to high crude prices
China takes on Russian oil at a cheap price
China’s largest oil supplier, Russia, has been overtaken by Saudi Arabia. Beijing is trying to profit from the crisis by buying cheaper supplies.
The U.S. oil and gas rigs for second week in a row -Baker Hughes
U.S. energy companies added oil and natural gas drilling rigs this week as crude production returns to pre-pandemic levels. President Joe Biden also criticized oil producers for making huge profits
Russian oil output up 5% in first half of June
According to Interfax, Russia’s first half of June saw an almost 5% increase in oil production compared to May. The Interfax news agency reported Tuesday, citing a source with knowledge
A potential Norway oil and gas strike could hit output, companies say
Norway’s oil output could be affected by a strike at nine offshore fields, according to the Norwegian Oil and Gas Association (NOG), which was announced Friday.
Norway’s oil and gas workers are at risk of striking, with some crude output at stake
At least 647 Norwegian oil workers will strike starting June 12, if state-brokered wage mediation is unsuccessful, labour unions announced Friday. This could lead to some crude output being shut
The U.S. oil and gas rig count drops for the first time in 31 week -Baker Hughes
U.S. energy companies cut oil and natural gas drilling this week for the first time in 31 weeks. However, the rig count increased for the record 22nd consecutive month.
The ninth week in succession, U.S. drillers added oil and gas rigs – Baker Hughes
U.S. energy companies added natural gas and oil rigs this week for the ninth consecutive week, data showed Friday. This is because small producers are responding to high prices and
China increases its purchases of Russian crude oil at bargain prices
According to oil traders and shipping data, China is quietly increasing its purchases of Russian oil at bargain prices. This is in response to Western buyers quitting Russia’s business after
