Brought to you by Quest Offshore & Southern Cone Consultants
(Reuters) - Brazil is at risk of facing a more serious incident than the Jan. 6, 2021 attack on the U.S. Capitol, said the head of the country's Electoral Court, Edson Fachin, on Wednesday ahead of the presidential election in October. His remarks follow the latest polls that show Brazil's far-right President, Jair Bolsonaro, trailing... Continue Reading →
(Reuters) - A rally in U.S. energy shares is crumbling, as fears of a global recession have prompted investors to take profits in one of the few corners of the stock market that has thrived this year. The S&P 500 energy sector (.SPNY) is still up 20% year-to-date, bucking a broader market swoon. But the sector has... Continue Reading →
As energy security concerns continue to grow unabated due to the current geopolitical crisis, Rystad Energy, an energy intelligence group, has predicted that the considerable drop in the total recoverable oil worldwide from last year’s figures represents another threat to global energy security. Each year Rystad Energy releases its own analysis of the global energy... Continue Reading →
(Reuters) OPEC's Secretary-General Mohammad Barkindo has died, Mele Kyari, the chief executive of Nigerian National Petroleum Corp said on Wednesday. Barkindo, who was 63 years old, was due to step down at the end of this month after six years as OPEC's secretary-general. "We lost our esteemed Dr Muhammad Sanusi Barkindo," Kyari said on Twitter,... Continue Reading →
(WO) Oil headed for its worst trading day in almost three months as recession fears iced markets, outweighing a fundamentally tight supply market. West Texas Intermediate crude futures dropped as much as 10%, the most since March 9. Risk off sentiment spread throughout markets on escalating concerns that a global economic slowdown will ultimately hobble... Continue Reading →
(Reuters) - World oil demand growth will slow in 2023, OPEC delegates and industry sources said, as surging crude and fuel prices help drive up inflation and act as a drag on the global economy. Fuel use has rebounded from the 2020 pandemic-induced slump and is set to exceed 2019 levels this year even as... Continue Reading →
(Reuters) - Goldman Sachs increased its Brent oil price forecasts by $10 to $135 a barrel for the period between the second half of 2022 and the first half of next year, reasoning that a structural supply deficit was still unresolved. Prices would need to rise to the forecast level for supply to normalize by... Continue Reading →
(Reuters) Oil futures jumped on Monday, with Brent rising above $120 a barrel after Saudi Arabia hiked prices for its crude sales in July, signaling tight supply even after OPEC+ agreed to accelerate output increases over the next two months. Brent crude was up 91 cents, or 0.8%, at $120.63 a barrel at 0343 GMT... Continue Reading →
(Reuters) Oil prices extended gains on Tuesday after the EU agreed to slash oil imports from Russia, fueling worries of a tighter market already strained for supply amid rising demand ahead of peak U.S. and European summer driving season. Brent crude for July, which expires on Tuesday, rose $2.19, or 1.8%, to $123.86 a barrel... Continue Reading →
(Reuters) - Oil prices climbed above $120 a barrel on Monday, hitting their highest in more than two months, as traders waited to see whether a European Union meeting would reach an agreement on banning Russian oil imports. The Brent crude futures contract for July, which will expire on Tuesday, was up 59 cents, or... Continue Reading →
Brazil Energy Insight 