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18.07.25 - 21:09
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4 Oil Market Myths That Just Won′t Die (ZeroHedge)
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4 Oil Market Myths That Just Won't Die
Authored by Tsvetana Paraskova via OilPrice.com,
Despite claims of energy independence, the U.S. remains a net crude oil importer, though it is a net petroleum exporter overall.
Oil prices are influenced by a complex interplay of supply, demand, and geopolitical events, not solely by OPEC or U.S. presidents.
While renewables are growing, oil is not expected to be entirely replaced soon due to its essential role in various sectors like transportation and petrochemicals.
They've been debunked. Repeatedly. But like zombies in a horror movie, these oil market myths just won't stay dead. From campaign slogans to cocktail party arguments, here's what the data really says.
1) The U.S. is Energy Independent
Energy independence has been a key slogan in the campaigns and presidential terms of President Donald Trump. Make America Great Again and Make the US Energy Independent have often been tied into one pledge or claim.
Fact: While the U.S...
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18.07.25 - 20:06
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EU and UK lower price cap on Russian oil in bid to curb Kremlin′s war on Ukraine (The Guardian)
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EU's foreign policy chief says latest sanctions package is 'one of the strongest' to dateThe EU and the UK have agreed to lower the price cap on Russian oil in a move to further clamp down on the Kremlin's ability to wage war on Ukraine.The EU has agreed to lower the cap on seaborne oil exports to $47.60 from $60 a barrel as part of what its foreign policy chief, Kaja Kallas, called “one of [the] strongest sanctions packages against Russia to date”. Continue reading......
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18.07.25 - 18:31
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Chevron CEO Says Hess Deal Is Good For The Oil Industry (Bloomberg)
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Chevron Corp. won its arbitration battle with Exxon Mobil Corp. and has closed its $53 billion deal to buy Hess Corp. more than 20 months after the takeover was announced.
The decision is a major victory for Chevron, ending a period of strategic limbo that hurt its stock and prompted questions over the quality of the company's due diligence when it agreed to buy Hess in October 2023. Chevron Chief Executive Officer Mike Wirth said he would walk away from the deal if they lost the case.
“This creates a premier international and oil and gas company,” Wirth said in an interview with Bloomberg Television.
Bloomberg's Vincent Piazza reports. (Source: Bloomberg)...
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