Source: The Manila Times
We are in major turmoil (pun) around the world’s energy crisis. Where do you think oil and gas prices are going from here? Key influencing factors include;
Decreased demand due to economic factors
Germany’s major industries limiting manufacturing investments due to energy.
Russia is making historic revenues on energy exports even with sanctions.
EU looking at trying to put in Russian energy price cap sanctions. – That will only increase energy prices, as we saw Putin react by shutting of Nord Stream 1.
Biden Administration is looking to limit energy exports, increasing world energy prices.
Iran Nuclear Deal will have an estimated 70 million barrels injected into the market if signed. Biden is doing everything it can to get this signed.
Biden needs one big win before the election, and the Obama team is helping with the negotiations.
Europe is in for a decade of tough economic recovery.
There has never been such a total diametrically apposed pull on world oil and gas markets. Putting a crayon to the pricing matrix is tough, and having everyone’s opinions will help.
Below was a segment from the BBC with Cornelia Meyer about the energy markets.