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22 Mar 2024

Crude Oil is approaching a Golden Cross formation with an upward sloping 200D moving average.

The last Golden Cross sent Crude Oil soaring to its highest price since August/September 2022. Source: Barchart

19 Mar 2024

Saudi Aramco CEO Amin Nasser said the current energy transition strategy is failing.

The world should give up on the idea of phasing out oil and gas, Nasser said. The CEO called for a reset of the strategy that focuses on reducing emissions, not phasing out oil and gas. “In the real world, the current transition strategy is visibly failing on most fronts as it collides with five hard realities,” Nasser said during a panel interview at the CERAWeek by S&P Global energy conference in Houston, Texas. “A transition strategy reset is urgently needed and my proposal is this: We should abandon the fantasy of phasing out oil and gas and instead invest in them adequately reflecting realistic demand assumptions,” the CEO said to applause from the audience. Source: CNBC

18 Mar 2024

The US is now producing more oil than any country has in history

Source: Michel A.Arouet, Chartr

15 Mar 2024

Believe it or not oil is outperforming the NASDAQ this year

Source: Bloomberg

14 Mar 2024

Visualizing the Rise of the U.S. as Top Crude Oil Producer - by Elements & Visual Capitalist

Over the last decade, the United States has established itself as the world’s top producer of crude oil, surpassing Saudi Arabia and Russia. This infographic illustrates the rise of the U.S. as the biggest oil producer, based on data from the U.S. Energy Information Administration (EIA).

12 Mar 2024

The US is pumping more oil than any country in history

US crude production has surpassed every record in history for six years in a row, the US Energy Information Administration wrote on Monday. Its latest peak reached in 2023 is unlikely to be broken by any near-term competitor, it said.Including condensate, last year's US crude production averaged 12.9 million barrels per day, eclipsing the 2019 global record of 12.3 million barrels per day.A monthly record also occurred in December, at over 13.3 million b/d. Source: business insider

12 Mar 2024

Great visual on Saudi Aramco

By Graphite Asset Advisory / John Haslett, CA(SA), FRM

4 Mar 2024

Saudi Arabia, de facto leader of the Organization for the Petroleum Exporting Countries, will extend its voluntary crude production cut of 1 million barrels per day until the end of the second quarter

-> the state-owned Saudi Press Agency said Sunday, citing a source from the country’s Ministry of Energy. Riyadh’s crude production will be approximately 9 million barrels per day until the end of June, the announcement said..$ Russia will trim its production and export supplies by a combined 471,000 barrels per day until the end of June, Russian Deputy Prime Minister Alexander Novak said Source: CNBC https://lnkd.in/eJWWckDe

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