The fact is, all forms of energy will be required to meet future demand, and not about choosing one type of energy over another. Oil and gas are expected to remain the fuels with the largest share in the energy mix throughout the forecast period to 2040 says OPEC Secretary-General. WTI Crude is $55.31; Brent is $60.97 this morning
The return of production in Saudi Arabia has weighed on prices this week. The decline reflects a deepening manufacturing slump in Germany, signs of economic weakness in China and rising crude stockpiles in the U.S. WTI Crude is $55.84; Brent is $61.94 this morning.
This is one of the most extensive sanctions actions the United States has taken against entities and individuals identified as transporting Iranian oil since our sanctions were re-imposed on November 2018. WTI Crude is $56.40; Brent is $62.23 this morning.
Oil prices have pulled back as Aramco, formerly Saudi Arabian Oil Co., has promised it will return all lost production by the end of this month, despite some skepticism. The global economic outlook and weakening oil demand growth have also pushed oil lower. WTI Crude is $56.46; Brent is $62.09 this morning.
The US is moving more weapons and troops to Saudi Arabia while the kingdom has reiterated its commitment to restore output to pre-attack levels by the end of September. Some analysts are skeptical that target can be reached. WTI Crude is $58.01; Brent is $62.98 this morning.
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