In today’s briefing:
- EIA Forecasts Crude Oil Prices to Fall in 2025 Due to Weak Demand Growth
- Shell PLC – Is Their Intensive Focus on Cost Reduction to Enhance Profitability Working Out? – Major Drivers
EIA Forecasts Crude Oil Prices to Fall in 2025 Due to Weak Demand Growth
- EIA forecasts oil prices to gain during the first half of 2024 due to the Red Sea conflict and inventory withdrawals.
- Downward pressure from lukewarm oil demand and oversupply to keep prices low in 2025.
- US commercial crude oil inventories grew by 1.3% on a weekly basis but are 4% below the five year average for this time of year.
Shell PLC – Is Their Intensive Focus on Cost Reduction to Enhance Profitability Working Out? – Major Drivers
- Royal Dutch Shell’s Q4 and full year 2023 financial results demonstrated strong performance despite external uncertainties and volatility.
- The company reported the second-highest cash flow from operations in its history.
- However, Shell’s personal safety results were slightly lower than in 2022, and teams are focused on improvement in 2024.
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