Jump to content

U.S. oil production set to increase further in 2022, energy expert Dan Yergin says


MongiIG

Recommended Posts

image.png

image.png

US considering releasing emergency oil reserves to lower gas prices,  Granholm says | Fox Business

U.S. oil production is back and set to increase in 2022 after more than a year of OPEC and its allies “running the show,” according to Daniel Yergin, vice chairman of IHS Markit.

Output could rise by as much as 900,000 barrels per day, he told CNBC’s “Squawk Box Asia” on Wednesday.

 

U.S. oil firms slashed production in 2020 as the coronavirus pandemic destroyed demand and supply has not yet recovered to pre-Covid levels. In 2019, the U.S. produced 12.29 million barrels of crude oil per day, according to the U.S. Energy Information Administration.

That figure was 11.28 million in 2020 and is estimated to be 11.18 million in 2021 and 11.85 million in 2022.

“The U.S. is back,” Yergin said. “For the last year, year and a half, it’s been OPEC+ running the show, but U.S. production is coming back already, and it’s going to come back more in 2022.”

He added that he has been on two calls where the U.S. energy secretary asked companies to increase production.

“That, of course, is because the Biden administration is so deeply concerned or alarmed about inflation, and about its political impacts,” he said.

 

Yergin also predicted oil prices will stay in the $65 to $85 per barrel range and that $100 oil is unlikely “unless some big geopolitical turmoil happens.”

International benchmark Brent crude futures were up 0.49% at $79.62 on Thursday morning in Asia, while U.S. crude futures gained 0.47% to trade at $76.92.

U.S.-Russia relations

Yergin also discussed the Jan. 10 security talks between U.S. and Russian officials.

Tensions at the Russia-Ukraine border have been high for weeks, and the U.S. and European allies have been alarmed by the build up of Russian troops.

U.S. President Joe Biden and Russian President Vladimir Putin spoke via video call on Dec. 7. Putin asked that Ukraine be denied membership in the North Atlantic Treaty Organization — but the U.S. did not accept that demand.

There likely isn’t any intention for NATO to accept Ukraine into the alliance, but there’s a need for “strategic ambiguity,” Yergin said.

“Ukraine’s not going to become part of NATO, but … you can’t have Vladimir Putin dictating that to you,” he added.

The question is how to reach an agreement that “saves face for everybody,” he said.

Negotiations will be tough, but “at least they are having conversations,” said Yergin.

CNBC’s Natasha Turak, Amanda Macias and Holly Ellyatt contributed to this report.

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      21,176
    • Total Posts
      90,698
    • Total Members
      41,283
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    Cornelius
    Joined 29/01/23 07:33
  • Posts

    • Capital, win loss ratio. If you have a trading edge and you can consistently win 50% of your trades, so your winning 5 trades out of 10. So if your risking 1% of your capital per trade, out of your 10 trades 5 would be losers, so that’s 5% loss and realistically out of the 5 winning trades, some would make small profits, some break even and 1, 2 or 3 could run nicely IF you can let your profits run, basically your making money out of 2 trades out of the 10 trades (80/20 Rule Pareto principle) So a $20,000 acct risking 1% is $200 per trade, this will keep the trader with his trade risk based on being able to win 50% of his trades. A long term trend trader can win with 30% wining trade. Basically you need to know your numbers. Rgds Pete
    • Investing in stocks can be a great way to grow your wealth over time. However, there are different approaches that investors can take when choosing which stocks to buy. Two of the most popular approaches are growth investing and value investing. Growth Investing Growth investing is an investment strategy that focuses on buying stocks of companies that are expected to grow at a faster rate than the overall market. These companies are often in industries that are growing quickly, such as technology or healthcare. Investors who use this approach believe that these companies will be able to generate higher profits in the future, which will lead to higher stock prices. One of the main advantages of growth investing is that it can potentially provide higher returns than the overall market. However, it is also riskier than other investment strategies, as these companies often have higher valuations and more volatile stock prices. Value Investing Value investing is an investment strategy that focuses on buying stocks of companies that are undervalued by the market. These companies may be in industries that are out of favour or have recently experienced challenges, but they have strong fundamentals and a history of profitability. Investors who use this approach believe that these companies are undervalued and that their true value will be recognized in the future, leading to higher stock prices. One of the main advantages of value investing is that it can potentially provide lower risk than growth investing. However, it may also provide lower returns in the long run, as these companies may not have the same growth potential as companies in the growth investing category. Comparing Growth and Value Investing Growth and value investing are two different approaches to stock investing, each with its own advantages and disadvantages. Growth investing can potentially provide higher returns but is riskier, while value investing can provide lower risk but potentially lower returns. An investor may choose one approach or a combination of both. A portfolio that contains a mix of growth and value stocks can provide a balance of potential returns and risk. Conclusion Both growth investing and value investing can be effective ways to invest in stocks. The key is to understand the potential risks and rewards of each approach and to choose the one that aligns with your investment goals and risk tolerance. Analyst Peter Mathers TradingLounge™ 
    • I am a beginner, and I must say, there are a lot of rules to the trading game that one must abide by if they want to be successful.   Here, the writer mentions several basic rules for day vs swing trading.  However, I find that often times, the reasoning for these rules is not as  obvious for a beginner as it may be for an expert.   The 'why' factor if I may. For example, why must you have a large capital to trade with as a day trader? Because your positions must be large so that a small change in price will be augmented and turned into a large profit. Also, with such high risk, the margin will be specially high, given the trader is taking up large positions at a time.  Without a large amount of capital, positions may be forced to close due to funds being below margin requirements.  When this happens, you can expect to lose tons of cash, fast.  I learned the hard way. All the best, David Franco      
×
×
  • Create New...