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Oil Prices Under Pressure From the Prospect of Another OPEC+ Hike

Oil & Gas‚ Oil and Gas Industry | intent | May 27, 2025 | Comment off

“Crude oil edged lower as the market contemplated the outlook for rising OPEC supply,” ANZ analysts said earlier today in a note, as quoted by Reuters. On the other hand, ING analysts noted President Trump’s concession to the EU, which delayed the entry into effect of 50% tariffs to early July in case the two failed to seal a new trade deal. Also on the bullish side, President Trump threatened Russia with more sanctions after intensified strikes on Ukraine that followed a large-scale Ukrainian attack on Russian territory.

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Gov’t must keep up the momentum

Oil & Gas‚ Oil and Gas Industry | intent | May 26, 2025 | Comment off

First, Jubilee and TEN, where the partners are Tullow, Kosmos, Petro SA, Explorco and GNPC. They have recently announced that they are committed to invest $2billion, to drill up to 20 wells between now and 2040. They are starting the drilling campaign this month with two wells using the Noble Venturer drillship and between four to six wells in 2026.

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U.S. Resists EU Push to Lower Russian Oil Price Cap

Oil & Gas‚ Oil and Gas Industry | intent | May 23, 2025 | Comment off

A European official attending the G7 finance powwow in Banff, Canada, told Reuters that the U.S. Treasury team thinks market forces are already doing the heavy lifting. With Brent prices wobbling around $64—and Russia’s Urals blend clocking in at a $10 discount—Washington’s logic is that there’s no need to poke the bear when the bear’s already limping.

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Banks Slash Oil Price Forecasts as OPEC Resumes Fight for Market Share

Oil & Gas‚ Oil and Gas Industry | intent | May 7, 2025 | Comment off

Wall Street banks are racing this week to slash their oil price forecasts for 2025 and 2026 after OPEC+ threw another curveball at the market this weekend by vowing to continue raising production by more than initially planned.

Commodity strategists and analysts from major U.S. and European investment banks have issued notes with downgraded oil price forecasts for 2025 and 2026 since OPEC+ producers led by Saudi Arabia and Russia agreed on Saturday to raise collective output by 411,000 barrels per day (bpd), nearly triple the volume originally scheduled.

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Big Oil Isn’t Backing Down at $60 Oil

Oil & Gas‚ Oil and Gas Industry | intent | May 6, 2025 | Comment off

Big Oil majors have no plans to scale back their budgets despite oil prices softening and more barrels poised to hit the market. That may sound reckless in a bearish environment, but it’s anything but. With demand picking up in Asia and OPEC+ preparing to unwind production cuts faster than expected, Exxon, Chevron, Shell, and TotalEnergies are digging in—ready to pump more, not less.

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