In this episode of the Energy News Beat Daily Standup, the host, Michael Tanner discusses several significant developments in the energy sector. Key topics include OPEC's planned increase in oil production from July, potentially reversing prior cuts and impacting global oil prices, with Saudi Arabia expected to significantly boost its output. He also covers Russia's estimated doubling of oil and gas revenue in April despite sanctions, the near completion of the Mountain Valley Pipeline, and fluctuations in the oil market influenced by various factors including U.S. crude inventory changes. Additionally, he comments on Tesla's share price jump following an announcement about new, more affordable electric vehicles, despite a recent drop in revenue and a pessimistic outlook for 2024.

Highlights of the Podcast

00:00 - Intro

01:24 - OPEC to increase oil production from July, International Monetary Fund predicts

04:21 - Reuters Estimates: Russian Oil and Gas Revenue to Double in April

05:53 - Mountain Valley Pipeline largely completed, company says

09:08 - Markets Update

10:24 - Tesla shares jump 13% after Musk says company aims to start production of affordable new EV by early 2025

11:44 - Outro

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

OPEC to increase oil production from July, International Monetary Fund predicts

April 24, 2024 Mariel Alumit

(Bloomberg) – The International Monetary Fund expects OPEC and its partners to start increasing oil production gradually from July, a transition that’s set to catapult Saudi Arabia back into the ranks of the world’s fastest-growing […]

Reuters Estimates: Russian Oil and Gas Revenue to Double in April

April 24, 2024 Mariel Alumit

Reuters: This month, Russia is expected to pocket $14 billion from oil & gas. Russia’s oil and gas revenues slumped by 23.9% last year compared to 2022. Reuters estimates that Russia’s revenues from oil and […]

Mountain Valley Pipeline largely completed, company says

April 24, 2024 Mariel Alumit

The Mountain Valley Pipeline is largely completed, the company said Monday in requesting federal approval for it to be placed in service. Although some work remains, the company asked the Federal Energy Regulatory Commission to […]

Tesla shares jump 13% after Musk says company aims to start production of affordable new EV by early 2025

April 24, 2024 Mariel Alumit

Tesla reported a 9% drop in first-quarter revenue on Tuesday, the biggest decline since 2012, and missed analysts’ estimates, as the electric vehicle company weathers the effect of ongoing price cuts. The stock jumped in extended […]

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