All is quiet in oil markets—for now
That would change if the war were to spread, but Iran and China have a stake in keeping it contained.
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That would change if the war were to spread, but Iran and China have a stake in keeping it contained.
(Bloomberg) -- The latest evidence of a pivot by oil explorers from US shale to offshore appeared Monday as the US Energy Information Administration warned that a drop in onshore production is accelerating into November.Most Read from BloombergYour Guide to Understanding the Roots of the Israel-Hamas WarIsrael Latest: Army Says Hamas Officials Dead; Over 600,000 in Gaza Flee SouthIsrael Latest: Minister Tells Blinken to Brace for ‘Long War’US Pushes to Contain Israel-Hamas War, Warns Iran About
Resource depletion, lack of political support, rising costs, workforce constraints, and rising capital costs are keeping U.S. drillers from boosting production next year
Oil prices could skyrocket next year and leave supply tight over the next decade if the industry is still slammed with underinvestment.
European demand has kicked the US LNG industry into high gear, but its capacity is too low and the climate is being caught in the crossfire.