US Energy Secretary says sees no huge increase in oil and gas prices in 'next short while'US Energy Secretary Granholm spoke with Reuters, main points:
US could boost the rate of replenishing strategic petroleum reserve
as maintenance work at two sites winds down- Work at SPR will be
finished by the end of year - Creating a strategic
resilience reserve for stockpiles of critical minerals with allies to
help energy transition a good idea - US talking with
allies on critical minerals production, stockpile goals, could
release details 'soon' - Global oil market
well stocked, feels comfortable that there will be no huge increase
in oil and gas prices in 'next short while' - Even OPEC countries
recognize there is only so much they can do to manipulate oil prices - 'We should all be
concerned' about oil industry consolidation - US aims to complete
lng export review in q1 2025 - Doesn't expect
permitting pause to damage US competiveness in global LNG market
Earlier on oil:
Oil update:
This article was written by Eamonn Sheridan at www.forexlive.com.
Source: US Energy Secretary says sees no huge increase in oil and gas prices in 'next short while' (https://www.forexlive.com/news/us-energy-secretary-says-sees-no-huge-increase-in-oil-and-gas-prices-in-next-short-while-20240604/)
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