Author: omc_admin

Things took a dovish turn following comments from New York Fed President John Williams on Friday, who said that a rate cut remains a possibility. Fed Governor Christopher Waller also continues to advocate for additional Fed easing in December – a stance also echoed by San Francisco Fed President Mary Daly amid softness in the jobs market. I think it is important to highlight that, although Daly is not a current voting member, I do not recall a time when she has publicly pushed back against Fed Chair Jerome Powell. Benefitting from the bid in risk yesterday were Cryptocurrencies, with…

HOUSTON (AP) — A tornado that raced through residential areas north of Houston damaged more than 100 homes, tearing off roofs, moving garages off their foundations and smashing windows, authorities in Texas said.No injuries were reported in the storm Monday that uprooted trees, downed power lines and created paths of debris throughout some neighborhoods.Heavy fog made it difficult to assess all the damage Tuesday morning, but calmer weather conditions were expected to prevail in the area. Heavy rain and severe thunderstorms were expected farther south during the day, considered one of the busiest travel days of the Thanksgiving holiday period.…

Union Minister Pralhad Joshi inaugurated a 240 TPD Biomass Pellet Plant in Rewari, Haryana, a significant step in the state’s clean energy drive. Union Minister for New and Renewable Energy, Pralhad Joshi, on Monday inaugurated a state-of-the-art 240 TPD (tonnes per day) Biomass Pellet Plant in Rewari, Haryana, marking a significant milestone in the State’s clean energy journey, according to an official release.Union Minister Joshi said that the occasion marks a significant milestone in the State’s clean energy journey and reflects Haryana’s steady emergence as a major contributor to India’s renewable energy future.The Minister underlined that the Government of India…

A major driver of this imbalance is the resurgence of non-OPEC+ production. In a bold prediction for energy markets, JP Morgan has projected that Brent crude could slide into the $30s by the end of FY27, driven by a deepening global supply glut that far outpaces demand growth. The investment bank’s latest outlook suggests that even as oil consumption rises steadily over the next three years, supply additions — particularly from non-OPEC+ producers — will overwhelm the market and weigh heavily on prices. If this plays out, it could prove to be a major boost for Indian markets, given the…

China’s imports of liquefied natural gas are set to decline for the 13th month in a row in November amid higher domestic production and pipeline imports, Bloomberg has reported, citing Kpler data.The country’s November total in imports is seen at 5.81 million tons, which would be a 5.5% decline from a year ago, Kpler said. The decline would be significantly smaller than the ones registered for the previous two months, both of which were at over 10% on the year.Last year, China saw a surge in LNG and pipeline gas imports as it sought to fill its storage caverns. Over…

Trump has already confirmed that India has “very substantially” stopped buying oil from those firms.The Global Trade Research Initiative (GTRI) has put the spotlight firmly on the US oil-linked tariff, urging the Board of Trade (BoT) to make securing its rollback India’s top trade priority. The BoT, chaired by the Commerce and Industry Minister and meeting today to propose measures to revive export growth, has been asked to press Washington to withdraw the additional 25 per cent “Russian oil” duty before India enters any trade-pact discussions with the United States.GTRI notes that the surcharge was originally imposed on countries sourcing…

Russia could boost its crude oil exports to China, extending existing agreements, Deputy Prime Minister Alexander Novak said today, noting specifically a deal for the export of Russian crude via Kazakhstan that could be extended by 10 years until 2033.Reuters recalls that Russia currently exports some 1.4 million barrels of Russian crude by sea and another 900,000 barrels daily by pipeline, via Kazakhstan. This is not the first time that the two have discussed boosting the pipeline flows. Indeed, earlier this year, Russia suggested it could increase the flow of oil to China via the Atasu-Alashankou pipeline by 2.5 million…

KURT S. ABRAHAM, EDITOR-IN-CHIEF & CHIEF FORECASTER  Among the policy initiatives that the Trump administration has promised to make good on since taking office has been to rejuvenate offshore oil and gas leasing. Indeed, we’ve heard various comments out of the U.S. Department of the Interior (DOI) over the last six to eight months that a complete overhaul of federal offshore leasing coming soon, with a new, draft five-year plan.  Fig. 1. DOI’s proposed leasing program includes 21 areas off the coast of Alaska. Map: DOI. Well, finally, the waiting is over. On Nov. 20, DOI announced the new offshore strategy, and it is significant. DOI has composed a Secretary’s Order titled “Unleashing American Offshore Energy,”…

Dawn was breaking over the Amazonian city of Belém on Saturday morning, but in the windowless conference room it could have been day or night. They had been stuck there for more than 12 hours, dozens of ministers representing 17 groups of countries, from the poorest on the planet to the richest, urged by the Brazilian hosts to accept a settlement cooked up the day before.Tempers were short, the air thick as the sweaty and exhausted delegates faced up to reality: there would not be a deal here in Brazil. The 30th UN climate conference would end in abject failure.The…

(World Oil) – Diversified Energy has completed its previously announced acquisition of privately held Canvas Energy, adding a sizeable operated position in central Oklahoma and increasing the company’s daily production by roughly 13%. The $550 million deal includes operated producing assets and approximately 1.6 million net acres across the state. Diversified said the assets currently produce about 24 MMboed and include an inventory of development locations alongside proved reserves of roughly 200 MMboe with a PV-10 value of about $690 million. To finance the transaction, Diversified closed a $400 million asset-backed securitization (ABS XI) structured through a master trust and privately rated…