As energy industry professionals gathered in Houston for CERAWeek, global oil politics was top of the agenda. Policymakers and market participants saw opportunities for the US to grow its oil and gas exports amid geopolitical turbulence. Developments on Iran sanctions were a key question hanging over the event, as the market awaits further news on waivers for key importers of Iranian crude. And the US’s request that India cut its Venezuelan crude oil imports has raised the possibility that it could take a softer line on Indian purchases of Iranian oil. Meanwhile, Japan this week looked poised to take a last cargo of Iranian oil under the current waiver, as talks between Japan and the US on the sanctions continue. GRAPHIC OF THE WEEK US oil and gas rig counts have shown erratic patterns lately, but one reason for recent declines may be the increasing efficiency of operators. Click to enlarge ENERGY TRANSITION EU parliament to approve anti-fossil energy laws by mid-April The European Parliament is on track to approve all outstanding draft EU energy laws by mid-April, ensuring that the push away from fossil fuels towards renewable energies will not be disrupted by its elections in May. OIL PRODUCTS… continue reading
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Source: CTRM Center