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That Was the Week That Was...in O&G: a 30 second update (w/e Sep 1, 2023)

Farhan Sher

发布日期: 2023年9月4日

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WTI?up 7%?WOW

Oil prices rose on Friday to their highest levels in over 6 months breaking a two-week losing streak, helped by expectations of tightening supplies
Saudi Arabia is expected to continue with voluntary 1 MBPD production cut in October, extending OPEC+ supply curbs
Russia, the 2nd largest oil exporter, has already agreed with OPEC+ partners to cut oil exports next month

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HH?up 9% WOW

Short-covering countered a relatively bearish EIA storage report

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Baker Hughes US rig count (ex-GOM)?down 1 WOW

631 vs 632: EFS (-2), Permian (-1)

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