Looking forward, Stratas Advisors forecasts that Brent oil will average $76.90 in 1Q25.
The incoming administration’s policies on sanctions, tariffs, regulations and deportations will impact the oil and gas industry.
Russia declared a federal emergency on Dec. 26 over an oil spill in the Black Sea.
For the upcoming week, Stratas Advisors think oil prices will get a boost from the oil demand associated with the holiday season and from recent geopolitical news.
One of the keys to pricing is whether global conflicts curtail the flow of oil. They have not.
For the upcoming week, Stratas Advisors expect oil prices will move sideways with more downside risk than upside potential.
The Chinese oil and gas major said CNOOC Energy Holdings U.S.A. entered into a sales agreement with a subsidiary of INEOS relating to CNOOC's upstream oil and gas assets in the U.S. part of the Gulf of Mexico.
Energy demand is forecast to grow as data centers gobble up more electricity and LNG liquefaction capacity comes online in North America, but gasoline demand may peak by 2025, analysts say.
President-elect Donald Trump’s policies are expected to benefit the U.S. oil and gas sector, but also bring economic and geopolitical risks.
The Organization of the Petroleum Exporting Countries and its allies on Dec. 5 pushed back the start of oil output rises by three months until April.