Author: intent

Moscow’s New Energy Plan: Oil Output To Remain Flat Until 2050

Oil & Gas‚ Oil and Gas Industry | intent | April 15, 2025 | Comment off

The new Russian energy plan appears to contradict statements coming out of Moscow as early as September 2024, when the country’s deputy energy minister, Pavel Sorokin, said Russia was anticipating significant growth in global oil demand through 2050 and was prepared to meet that rising demand. At the time, Sorokin also stressed that Russia will not saturate the market unless necessary. The Energy Ministry forecasts global oil demand to grow by at least 5-7 million barrels per day, a 4.5%-5.5% increase through 2030, with continued growth of at least 5% by 2050.

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Brazil Auctions Oil Blocks Under Environmental Dispute

Oil & Gas‚ Oil and Gas Industry | intent | April 15, 2025 | Comment off

The Equatorial Margin offshore Brazil, which includes Foz do Amazonas, Pará-Maranhão, and Barreirinhas basins, is estimated to hold large oil and gas reserves and is believed to share geology similar to that of Guyana’s offshore, where Exxon is finding billions of barrels of oil and has developed and is developing half a dozen projects. Petrobras is appealing Ibama’s decision to not grant drilling rights. However, this decision may spook potential candidates for the blocks, according to a local analyst.

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Oil Prices Stabilize on Tariff Exemptions and China Imports

Oil & Gas‚ Oil and Gas Industry | intent | April 15, 2025 | Comment off

At the time of writing, Brent crude was trading at just over $65 per barrel, with West Texas Intermediate at $61.71 per barrel, after on Friday the Trump administration announced a tariff exemption for certain electronics and semiconductors. Optimism wavered this week, however, as Washington launched investigations into pharmaceutical and semiconductor imports in what the media reported was part of setting the stage for tariffs on these two groups of products. President Trump himself said semiconductors were on the line for tariffs.

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You Can’t LNG Your Way Out of a Trade Deficit

Oil & Gas‚ Oil and Gas Industry | intent | April 14, 2025 | Comment off

Taiwan was slapped with a 32% tariff, which has been halted for 90 days, although it had just made some big commitments to invest in the U.S., including in U.S. energy projects. Last month, Taiwan’s state-held oil and gas company CPC Corporation signed a letter of intent to invest in the $44-billion Alaska LNG export project and buy LNG from it as part of a move to bolster its gas supply and energy security.

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Oil Outlook Takes a Beating from Trade War Jitters

Oil & Gas‚ Oil and Gas Industry | intent | April 14, 2025 | Comment off

Crude oil is set to end another week with substantial losses as markets reel from President Trump’s tariff offensive, despite the fact he pulled the punch at the last second. With one notable exception: China. As Beijing and Washington take turns to up the ante, the outlook for oil and energy in general has gone from bright to really dim.

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Saudi Arabia’s Next Move Could Hit Oil Prices Hard

Oil & Gas‚ Oil and Gas Industry | intent | April 14, 2025 | Comment off

Last week, eight OPEC+ countries unveiled plans to advance their planned phase-out of voluntary oil output cuts by ramping up output by 411,000 barrels per day in May–equivalent to three monthly increments. The announcement of the accelerated unwinding clip comes at a time when U.S. President Donald Trump announced tariffs on trading partners, deepening the shock to oil markets. Brent crude for June delivery was up 0.1% to trade at $63.32 per barrel at 9.45 am ET on Friday while WTI crude was flat at $60.12 per barrel.

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Oil Market Chaos Continues Amid Trump’s Trade War

Oil & Gas‚ Oil and Gas Industry | intent | April 14, 2025 | Comment off

This points towards weaker oil demand going forward, although the prospect of U.S. action reducing Iranian oil exports played some counterbalancing role for prices. On Friday, Energy Secretary Chris Wright said the federal government was capable of halting oil exports from Iran. “We can follow the ships leaving Iran. We know where they go. We can stop Iran’s export of oil,” Wright said.

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Goldman Sachs Cuts Oil Price Outlook Once Again

Uncategorized | intent | April 14, 2025 | Comment off

“The risks to our reduced oil price forecast are to the downside, especially for 2026, given growing risks of recession and to a lesser extent of higher OPEC+ supply,” Godman said in one of its earlier April notes, referring to the most expected outcome of the tariff war that President Trump started in early April. However, there is a good chance the war will end before it start hitting the global economy, eliminating the biggest risks as defined by Goldman Sachs and thus reducing the danger of a more serious oil price decline.

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