|
Through July world oil demand averaged 10.5 million barrels a day lower than last year, roughly 10%, as lockdowns aimed at halting the virus emptied roads and grounded flights, the International Energy Agency said. WTI Crude is $37.82; Brent is $40.09  Source: Bloomberg.com - By: Grant Smith - Image: File Photo
0 Comments
It will take until late 2021 for oil consumption to return to the 2019 level of 101 million barrels a day. Citi sees global benchmark Brent crude, currently trading near $40 a barrel, averaging around $55 in 2021 before getting back to the $60 mark by the end of the year. West Texas Intermediate will recover to $58 by then. WTI Crude is $37.10; Brent is $39.59  Source: Bloomberg.com - By: Sharon Cho - Image: Bartek Sadowski With a mixed demand picture, rising U.S. crude stockpiles, and the OPEC+ alliance gradually adding more supply, some market players are considering storing crude at sea again. WTI Crude is $36.85; Brent is $39.44  Source: Andres Guerra Luz and Alex Longley - Image: Jason Alden In London congestion has risen above the 2019 average, the first year-on-year increase since the pandemic started. The surge has coincided with the start of the school year and several companies offering employees cash incentives to use their cars or take taxis to work, rather than public transport. WTI Crude is $37.59; Brent is $40.39  Source: Bloomberg.com - By: Javier Blas - Image: Jeremy Suyker A stalling Asian demand recovery, the end of the U.S. summer driving season, and more supply from the OPEC+ alliance are adding up to a bleak short-term outlook for oil prices. $37.61; Brent $40.61  Source: Bloomberg.com - By: Jessica Summers, Andres Guerra Luz, and Alex Longley - Image: Simon Dawson |
Hours: M - F 8:00 a.m. - 5:00 p.m. CentralTelephone: 844-952-7363Email: InvestorRelations@redhawkinvestmentgroup.com |
Quotes by TradingView
|
Redhawk Investment Group, LLC offers direct and alternative oil and gas investment opportunities that enable investors to participate in the potential cash flow and the unique tax benefits associated with oil and gas investments. There are significant risks associated with investing in oil and gas offerings. The information contained in this website is for informational purposes only and is not a solicitation to buy or sell any securities. Information on this site is not intended to be used as investment or tax advice. Consult your investment advisor or tax advisor concerning the current tax laws and effects on your personal tax situation.
Copyright 2019 - Redhawk Investment Group, LLC - Sitemap
Site by The Charter Oak Group
Site by The Charter Oak Group