RP Weekly Recap | January 20-27
At three of TotalEnergies’ refineries in France, strikes have already started. Beginning on February 5th, the European Union imposed a ban on the import of Russian petroleum. According to Bloomberg, diesel fuel cargoes are being redirected from their original destinations in Europe to new ones in the United States. Due to weak demand, the EIA has predicted lower prices for both gasoline and diesel this year. As goods are transported using diesel, higher-priced diesel will result in more expensive goods. Thus, the embargo will accelerate an inflation that is already causing governments on both sides of the Atlantic to worry.
Financial & Economic Updates
U.S. Oil Market News
- IRS Says Tax Filing Season Starts Monday: Here’s What to Expect
- Diesel Markets Brace For A Chaotic February
- M&A In U.S. Oil And Gas: Dealmaking Slides As Buyers Get Picky
- Biden touts job growth and slowing inflation rates in speech on economy
Global Market News
- Putin’s Eurasian Gas Union Faces Political Headwinds
- Russian Oil Ban Creates Profit Opportunities For Traders In Singapore
- Offshore Oil And Gas Is Back, Baby
- Brits are being paid to cut power use, as cold snap threatens supply
- In Unexpected Swing, Germany’s Public Now Favors Nuclear Power
- Employers added 223,000 jobs in December – unemployment continues to drop!
United States Rig Count
- Up 0 rigs from last week for a total of 771
- Up 31% from one year ago
- Statistics courtesy of Baker Hughes
RARE PETRO Updates
Content Updates – News Pulse – Podcast
- A New Basin Breakdown for the month of December is available now! Be sure to check out the latest articles and Basin Breakdown Podcast!
- Grab a drink and join us for our Thirsty Thursday: An Inventory Report to stay up to date on al the weekly oil and gas numbers
- As Always, A New Monday Madness Podcast!
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