• Oil Prices DROP 4%

  • Jun 4 2024
  • Length: 17 mins
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Oil Prices DROP 4%

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  • In this episode of the Energy News Beat Daily Standup, the hosts, Michael Tanner and Stuart Turley discuss key energy headlines, including the U.S. House passing a bill to ban the Federal Reserve from issuing a digital currency, the swift sellout of Saudi Aramco's $12 billion IPO, and Russia's new ship-to-ship oil transfer hotspot in the Mediterranean. They also cover the growing renewable energy challenges in the U.S. Northeast, potential impacts of U.S. shale mergers on oil prices, and the sharp decline in crude oil prices following OPEC's decision to extend production cuts.Highlights of the Podcast00:00 - Intro01:22 - U.S. House Passes Bill Banning Federal Reserve From Issuing a CBDC03:53 - Saudi Aramco’s $12 billion share sale sells out in mere hours06:15 - Russia Has a New Hotspot For Ship-to-Ship Oil Transfers in the Mediterranean07:52 - The renewable green energy disaster off the northeastern US is getting worse09:35 - U.S. Shale Mergers Could Bring Steadier Oil Prices12:58 - Oil prices fall as OPEC+ extends oil production cuts into 202514:11 - Oil hits four-month low as OPEC+ decision fails to allay demand worries16:28 - OutroPlease see the links below or articles that we discuss in the podcast. U.S. House Passes Bill Banning Federal Reserve From Issuing a CBDCJune 3, 2024 Mariel AlumitThe U.S. House of Representatives voted largely along party lines to prevent the Federal Reserve from issuing a central bank digital currency. The CBDC Anti-Surveillance State Act, introduced by Majority Whip Tom Emmer (R-Minn.), seeks […]Saudi Aramco’s $12 billion share sale sells out in mere hoursJune 3, 2024 Mariel Alumit(Bloomberg) – Saudi Aramco’s $12 billion share sale sold out shortly after the deal opened on Sunday, in a boon to the government that’s seeking funds to help pay for a massive economic transformation plan. […]Russia Has a New Hotspot For Ship-to-Ship Oil Transfers in the MediterraneanJune 3, 2024 Mariel AlumitFollowing a clampdown in Greece, ship-to-ship transfers of Russian oil have moved further west in the Mediterranean, just off the eastern end of Morocco’s coast on the Mediterranean, according to vessel-tracking data compiled by Bloomberg. The […]The renewable green energy disaster off the northeastern US is getting worseJune 3, 2024 Mariel AlumitAslow-motion collapse in the offshore wind industry continues to grow as sticky inflation and supply chain challenges force developers to delay or cancel major projects. In particular, progress towards the Biden administration’s goal of building […]U.S. Shale Mergers Could Bring Steadier Oil PricesJune 3, 2024 Mariel AlumitThe key driver of the industry now is returning more to shareholders and preparing for inventory stacked up for years of production ahead. Last week, the U.S. oil industry saw its latest announcement of a […]Oil hits four-month low as OPEC+ decision fails to allay demand worriesJune 3, 2024 Mariel AlumitNEW YORK, June 3 (Reuters) – Oil prices tumbled by $3 a barrel on Monday to their lowest in nearly four months, as investors worried that a complicated OPEC+ output decision could lead to higher […]Oil prices fall as OPEC+ extends oil production cuts into 2025June 3, 2024 Mariel AlumitCrude oil prices (CL=F, BZ=F) are falling after OPEC+ announced it will extend its oil production cuts into 2025. Traders widely expected this move, but some of those production cuts will begin to be phased out […] Follow Stuart On LinkedIn and TwitterFollow Michael On LinkedIn and TwitterENB Top NewsEnergy DashboardENB PodcastENB Substack– Get in Contact With The Show –
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