Hurricane Ida
Posted inExploration & Production

Oil rises on US production lag, Hurricane Ida impact and OPEC report

by Nishant Bhushan, oil markets analyst, Rystad Energy

Oil prices are starting the week with gains as a result of the persistent impact of Hurricane Ida on US production. The prospect of further bad weather and an expected demand revision by OPEC are also offering support

The impact of Hurricane Ida is lasting more than the market expected and as some oil production capacity remains shut this week, prices are rising on supply not being restored and therefore not reaching refineries that have restarted operations quicker than producers. The threat of more disruptions from extreme weather is also a cause of […]

Posted inExploration & Production

Forecast: Hurricane Ida’s impact on US gas markets

by Emily McClain, Senior Gas Market Analyst

Concerns over the effect the storm on US gas markets grew last week, but have since dissipated as preliminary data suggests minimal impact on supply, including feedgas to liquefied natural gas (LNG) terminals, and on demand for natural gas for power generation. We forecast LNG export volumes to remain strong and anticipate no shut-ins or […]

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Posted inExploration & Production

Oil market update: OPEC forecast, demand uncertainty, Hurricane Ida

by Bjornar Tonhaugen, head of oil markets, Rystad Energy

Crude futures are trading higher today as the market has quickly moved to discount the net negative effect on supply and demand balances for Sep-21 from Hurricane Ida and instead focused ahead on today’s monthly OPEC+ meeting. It is fair to say that the market widely expects OPEC+ to ratify its plan of bringing back […]