Despite a highly charged geopolitical environment we have seen a rather muted reaction by the oil markets. There are many reasons for this including available buffer, ample supply, lukewarm demand growth and a still weak/slow global economy. This update provides latest developments in regards to oil markets in particular and world economy in general.
1. Monday Macro View: Why aren’t oil prices rising? – Premium
In this article, Osama Rizvi highlights that despite escalating geopolitical tensions, particularly in the Middle East, oil prices have not surged as might be expected in such circumstances. This resilience in the oil market can be attributed to a range of factors that are tempering the potential impact of these geopolitical risks. What are those factors? Read the article to find out.
2. Market Sentiment Tracker – Assessing the Big Three – PREMIUM
A recession or no recession? That is the question these days keeping everyone on their toes. The economic indicators coming out of major economies are conflicting at best. As always, we take a look at the weekly developments in the major economies.
3. Operational Efficiency of US Drillers – FREE
In an era where operational efficiency is paramount, the U.S. oil industry has not only adapted but thrived, with a record high in denser crude oil production leading the charge. The Energy Information Administration (EIA) reports a notable increase in production in Texas, with substantial contributions from New Mexico and North Dakota. This surge is attributed to a constellation of factors including favorable sale prices, advancements in drilling technology, and enhanced pipeline access to refineries and consumer markets. This article discusses these developments in detail.
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