OIL PRICE INTELLIGENCE REPORT
In today’s newsletter, we will take a quick look at some of the critical figures and data in the energy markets this week. We will then look at some of the key market movers early this week before providing you with the latest analysis of the top news events taking place in the global energy complex over the past few days. We hope you enjoy. Investor Alert! Oilfield service giants are looking like an increasingly good investment as oil prices rebound. Read our latest Global Energy Alert investment column to get the full breakdown of what to watch... Chart of the Week - The EIA expects global oil demand to be larger than supply in 2021, particularly in the first quarter, leading to sharp inventory drawdowns. - EIA projects Brent to average $56 per barrel in the first quarter. - However, the agency expects Brent to remain stuck between $51 and $54 on a quarterly basis through 2022. Market Movers - Hess (NYSE: HES) said it would spend $1.9 billion in 2021, 80% of whic