RE: Brent is on the rise19 Oct 2021 22:54
Not that I usually pay much attention to analysts but I see the guru’s at Rystad Energy now expect this supply squeeze to continue into Q4 / 2022 ! No one’s ever that accurate but it’s heartening to see the Northern Hemisphere winter approaching (I live in warmer climes); China is forecast for near freezing conditions soon in the North ; LNG pricing now forcing some Asian power generators to switch to oil with an expected additional 400,000 barrels daily requirement ; Brazil’s Petronas saying fuel supplies for Nov. now pass its production capacity etc, etc so with all these signs of demand pressure OPEC will need to act fairly quickly, which is not in their current messaging, to stop the OP only going one way for a good few months yet.
( Anyway I currently remain more focused on applying for a new Government grant for a Heat Pump to be installed within our UK unoccupied abode, only so I can whip it straight out again and flog it on ebay....well isn’t that what many will do !! )