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Strategies & Market Trends : Dino's Bar & Grill
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To: Goose94 who wrote (118513)1/7/2022 2:00:35 PM
From: Goose94Read Replies (1) of 203566
 
Crude Oil: Geopolitics And Production Problems Push

Oil prices are gearing up for their largest weekly gain in three weeks after protests across Kazakhstan highlighted the fragility of crude supply. Whilst the immediate impact of riots has been difficult to gauge so far, the uncertainty helped push Brent quotes well above the 80 per barrel mark. Considering that Libya is unlikely to resolve its political impasse anytime soon and will most probably see a third of its nominal output shut-in for a prolonged period of time, supply disruptions seem to be firmly on the table currently. With Russian crude production stagnating for a couple of months already, rising crude prices are increasingly reflecting the supply constraints of oil production today.

Extreme Cold Derails Western Canada Production

Canada’s main oil-producing region, Alberta, is under an extreme cold warning with temperatures dropping as low as -40° C, hampering oil sands production due to malfunctioning equipment and pushing gas prices into an unprecedented spike.

Ecuador Restarts Oil Industry after Flood Destruction.

Almost one month after nationwide floods forced Ecuador to halt oil exports, state-owned PetroEcuador restarted loading operations yesterday as 70% of crude production came back onstream, easing the dearth of heavy Latin American barrels.

Oilprice.com
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