In this episode of the Daily Energy News Beat, Michael Tanner and Stuart Turley discuss various energy-related topics on December 21, 2023. They cover the discontinuation of an offshore wind farm project in Lake Erie due to regulatory challenges and grid damage, highlighting broader issues in the wind energy sector. The analysts suggest that oil prices are unlikely to reach $100 in 2024 due to record-breaking U.S. oil production and other supply challenges, leading to a complex situation for OPEC+. The Red Sea tensions are explored in relation to potential disruptions in the diesel market, impacting global shipping and supply chains. Additionally, EU countries receive exemptions to import Russian oil, while financial markets experience fluctuations with oil prices reacting to EIA data. The hosts also tease upcoming podcast episodes and mention their year-end content plans. 

Highlights of the Podcast

00:00 – Intro

03:02 - Another Offshore Wind Farm Hits the Dust

05:46 - Analysts Say Oil Prices Unlikely To Hit $100 In 2024

09:23 - OPEC+ Enters 2024 With `Wait and Hope’ as Its Strategy

12:11 - Red Sea Tensions Threaten to Disrupt Diesel Market Stability

15:20 - EU countries get Russian oil exemption – Reuters

16:24 - Markets Update

20:01 - Outro

Please see the links below for articles that we discuss in the podcast.

Another Offshore Wind Farm Hits the Dust

Key Takeaways 1: The developer of “Icebreaker,” a small project in Lake Erie, announced it is pulling stakes on its six-turbine project. 2: The project received a $50 million grant under President Obama, but the […]

Analysts Say Oil Prices Unlikely To Hit $100 In 2024

OPEC+ faces record-breaking U.S. oil production and rising supply from other non-OPEC+ producers, including Brazil, Guyana, Canada, and Norway. Barring a major geopolitical escalation resulting in a large supply outage, oil prices are unlikely to […]

OPEC+ Enters 2024 With `Wait and Hope’ as Its Strategy

Any weakness in oil demand or increase in supply — or both — could push the market into a surplus next year. Saudi Energy Minister Prince Abdulaziz bin Salman is apparently keen on Alexandre Dumas, often […]

Red Sea Tensions Threaten to Disrupt Diesel Market Stability

Increased distillate production and slowing economic activities have led to rising diesel stocks and falling prices. Weak manufacturing activity in the U.S. and Europe contributes to reduced diesel demand, easing the market. Geopolitical tensions near […]

EU countries get Russian oil exemption – Reuters

Brussels will allow Slovakia to export fuel produced from sanctioned crude to the Czech Republic for another year The European Union has granted Slovakia a year-long exemption allowing it to export fuel processed from Russian […]

Follow Stuart On LinkedIn and Twitter

Follow Michael On LinkedIn and Twitter

ENB Top News

ENB

Energy Dashboard

ENB Podcast

ENB Substack

– Get in Contact With The Show –