The Oil and Gas Bulletin

Russia Braces for Prolonged Oil Price Slump: Economic Risks on the Horizon! Russia’s Central Bank has issued a cautionary statement highlighting the potential for a prolonged period of low oil prices due to increased production from the U.S. and other non-OPEC countries like Brazil and Kazakhstan which has significantly impacted the Soviet Union's economy.   This caution was highlighted in a presentation by Prime Minister Mikhail Mishustin, which reflected concerns about global supply trends impacting Russia’s oil-dependent economy. The bank’s forecast anticipates Brent crude oil price a decline from previous years, averaging $60 per barrel in 2025. However, this prediction remains uncertain as the accuracy depends on the significant production growth outside OPEC. The oil executives have resisted ramping up production at current price levels even though the U.S. President Donald Trump has vouched for energy dominance and lower domestic energy costs. According to the latest Dallas ...

  Crude Oil Prices Rebound After Seven Week Decline! Crude oil prices rebounded last week, after a seven long week slump with West Texas Intermediate (WTI) rising on three out of five trading days where WTI closed at $67.18 per barrel, slightly above previous Friday’s closing at $67.04 (Midland Reporter-Telegram). The market remains highly uncertain, influenced by demand-supply dynamics and the geopolitical tensions. A quick end to the Russia-Ukraine war could ease global supply constraints which would reintroduce Russian oil in the global markets and drive down prices. Meanwhile, in its March Short-Term Energy Outlook, the Energy Information Administration (EIA) projected that WTI will end the year around $60 per barrel, with a potential range between $40 and $100. The agency also predicts tight global oil market conditions until mid-2025, after which inventory builds could exert downward pressure on prices. Additional factors contributing to volatility include tariff policies a...

EU's Energy Pivot: Why Europe is Betting Big on American LNG In January 2025, Russia pumped up its last direct natural gas supply to the EU, ending the long term contracts that have benefitted the households for decades. The major reason behind this vast decision was Russia’s invasion of Ukraine in 2022.  Russia was supplying gas via Soviet-era pipelines functioning through Ukraine.  EU energy commissioner, Dan Jorgensen has made a statement that the EU should focus more on producing their own energy rather than paying a price for the gas where the revenue goes to Putin’s war. He mentioned there will be more industries where gas cannot be quickly replaced by electricity and the EU will find more alternatives to fulfil the demand. He has given a hint about importing more gas from the U.S and how the European Commission has drawn up plans to engage with LNG suppliers and investors to secure more reliable and long term contracts with stable prices.  According to the statisti...