In this episode of the Energy News Beat Daily Standup, the hosts,Michael Tanner and Stuart Turley discuss several significant headlines. They start with the controversial decision to potentially sell off the US Northeast Gasoline Reserve, followed by a funding bill blocking China from buying oil from the Strategic Petroleum Reserve. Analysts forecast lower LNG prices, impacting America's natural gas market, and they explore ways to navigate Europe's $800 billion energy crisis. In finance, they note a strategic production curtailment by EQT due to low natural gas prices, and discuss OPEC's decision to extend output cuts, despite minimal impact on oil prices. The conversation touches on various companies and market trends, offering insights into the energy sector's current dynamics.

Highlights of the Podcast

00:00 - Intro

01:19 - U.S. Northeast Gasoline Reserve Could Be Sold Off

03:04 - US funding bill blocks China from buying oil from Strategic Petroleum

05:20 - Analysts Forecast “Lower for Longer” Prices in LNG Market

08:37 - 2 Ways to Play Europe’s $800 Billion Energy Crisis

12:11 - Markets Update

13:14 - Several OPEC+ countries extend output cuts through Q2, as Russia announces new reductions

14:29 - EQT Announces Strategic Production Curtailment

17:39 - Outro

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

U.S. Northeast Gasoline Reserve Could Be Sold Off

March 4, 2024 Mariel Alumit

The U.S. could sell off its 1-million-barrel Northeast Gasoline Supply Reserve in the fiscal year of 2024, a funding bill up for discussion at U.S. Congress says. Under the draft text of the bill, “the Secretary […]

US funding bill blocks China from buying oil from Strategic Petroleum Reserve

March 4, 2024 Mariel Alumit

WASHINGTON, March 3 (Reuters) – A measure in the U.S. funding legislation unveiled by congressional leaders on Sunday would block China from buying oil from the Strategic Petroleum Reserve. The desire for a hard line […]

Analysts Forecast “Lower for Longer” Prices in LNG Market

March 4, 2024 Mariel Alumit

MUFG Bank forecasts a surplus of LNG supply by 2025, primarily driven by a surge in supply from the US and the Middle East, potentially leading to lower prices and the end of the energy […]

2 Ways to Play Europe’s $800 Billion Energy Crisis

March 4, 2024 Mariel Alumit

The energy crisis that engulfed Europe after Western sanctions punished Russia’s invasion of Ukraine cost the continent hundreds of billions of dollars. Now, the Middle East crisis and the Houthi war on the Red Sea […]

Several OPEC+ countries extend output cuts through Q2, as Russia announces new reductions

March 4, 2024 Mariel Alumit

OPEC and its allies will maintain their tight grip on oil supply, with several members on March 3 announcing extensions of their voluntary production cuts that had been scheduled to expire at the end of […]

EQT Announces Strategic Production Curtailment

March 4, 2024 Mariel Alumit

PITTSBURGH, March 4, 2024 /PRNewswire/ — EQT Corporation (NYSE: EQT) (“EQT” or the “Company”) today announced it made the strategic decision to curtail approximately 1 Bcf per day of gross production beginning in late February in response to […]

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