In today’s briefing:
- Strong Buildup of US Crude Inventory Plays Spoilsport to a Solid Oil Rally
- Supply Disruptions Drive Copper TC to Three-Year Low; Smelters May Cut Production
- Mining The Gap For Low Carbon Transition Materials
- ConocoPhillips: Will The Expansion Of LNG Operations Result In A Solid 2024? – Major Drivers
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Strong Buildup of US Crude Inventory Plays Spoilsport to a Solid Oil Rally
- OPEC bullish on global oil demand growth, while IEA remains negative as it lowers its forecast from the previous report.
- US commercial crude inventories see stronger-than-expected buildup as refinery utilisation levels drop.
- OPEC is optimistic about the world economic growth in 2024 and 2025, increasing growth forecasts compared to the previous report.
Supply Disruptions Drive Copper TC to Three-Year Low; Smelters May Cut Production
- The copper market has experienced significant changes in the past few months, with supply constraints and increased demand from smelters in China.
- Major incidents, such as the suspension of production at First Quantum’s Cobra Panama mine, have contributed to a deficit in the market.
- Treatment and refining charges (TCRCs) have been on a downtrend, reflecting the tight supply and increasing demand, leading to more spot transactions in the market.
This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.
Mining The Gap For Low Carbon Transition Materials
- The transition to a low carbon economy, also known as the brown to green transition, involves moving from an economy based on fossil fuels with high carbon emissions to one with lower emissions.
- This transition will require a significant mobilization of capital, with estimates in the tens of trillions of dollars. Governments and the private sector are providing support and driving the change due to both funding and economic factors.
- In addition to investing in wind and solar infrastructure, the low carbon transition will require a significant amount of metals and materials. This includes steel, cement, rare earth, aluminum, silver, polysilicon, copper cabling, and more. The transition will create a more materials-intensive global economy.
This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.
ConocoPhillips: Will The Expansion Of LNG Operations Result In A Solid 2024? – Major Drivers
- In the Fourth Quarter 2023 Earnings, ConocoPhillips maintained a solid execution across all aspects of its investment mandate.
- The company reported record production, marking itself as an industry leader in reserve replacement.
- It advanced its global liquified natural gas (LNG) strategy with expansion in Qatar, final investment decision (FID) at Port Arthur, and several offtake and regasification agreements.