Daily Energy Report

Daily Energy Report

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Daily Energy Report
Daily Energy Report
Daily Energy Report

Daily Energy Report

Saudi/V8 strategy misunderstood, Aramco’s OSP, CA refinery losses, EU discusses banning Russian gas, EU grid nonsense, Australia renewables, Shell eyeing BP, India uses hydro as weapon, and more.

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A F Alhajji
May 05, 2025
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May 05, 2025

Chart of the Day

EOA: What Do Saudi Arabia & Allies in OPEC+ Want from Accelerating the Unwinding of Voluntary Cuts?

Bloomberg: Saudi Oil Strategy U-Turn Still Doesn’t Have an Endgame

Summary

Bloomberg’s story summary: Saudi Arabia appears to be deliberately driving down oil prices by pushing OPEC+ to increase production, but its true motives are unclear. While it claims to be punishing members like Iraq and Kazakhstan for exceeding output quotas, the actual impact seems minimal, raising doubts about that rationale. The real goal may be to offer cheap oil as a diplomatic gesture to the US ahead of President Trump’s visit. If production remains high after his departure, the move may reflect a deeper strategy to boost market share by breaking from traditional OPEC discipline.

This Bloomberg’s hit piece misses key points as explained below.

EOA’s Main Takeaway

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