{"id":23155,"date":"2022-10-14T16:23:48","date_gmt":"2022-10-14T16:23:48","guid":{"rendered":"https:\/\/resourceinsider.com\/?p=23155"},"modified":"2022-10-15T16:39:02","modified_gmt":"2022-10-15T16:39:02","slug":"world-short-og","status":"publish","type":"post","link":"https:\/\/resourceinsider.com\/world-short-og\/","title":{"rendered":"Is the World Short Oil &#038; Gas?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"23155\" class=\"elementor elementor-23155\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<header class=\"elementor-section elementor-top-section elementor-element elementor-element-dcea1cf elementor-section-full_width elementor-section-height-min-height elementor-section-stretched elementor-section-height-default elementor-section-items-middle\" data-id=\"dcea1cf\" data-element_type=\"section\" 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elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ce4cd35 elementor-widget elementor-widget-text-editor\" data-id=\"ce4cd35\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.20.0 - 13-03-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<h1><b>Is the World Short Oil &amp; Gas<\/b><\/h1>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cac543c elementor-widget elementor-widget-text-editor\" data-id=\"cac543c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><span class=\"body-text\"><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">Energy markets are the talk of the town right now, and for good reason.<\/span><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/p><p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><span style=\"text-decoration: inherit;\"><span class=\"body-text\"><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\"><!--\n-->Here are some headlines:<\/span><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/span><\/p><ul type=\"disc\"><li class=\"MsoNormal\" style=\"color: #2b2c33; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 14.25pt; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;\"><span style=\"text-decoration: inherit;\"><span class=\"body-text\"><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\"><!--\n-->Nord Stream 1 and 2 are down<\/span><\/span><span style=\"font-size: 10.5pt;\"><\/span><\/span><\/li><li class=\"MsoNormal\" style=\"color: #2b2c33; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 14.25pt; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;\"><!--\n--><span style=\"text-decoration: inherit;\"><span class=\"body-text\"><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">US petroleum stocks are below the 5yr range<\/span><\/span><span style=\"font-size: 10.5pt;\"><\/span><\/span><\/li><li class=\"MsoNormal\" style=\"color: #2b2c33; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 14.25pt; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;\"><!--\n--><span style=\"text-decoration: inherit;\"><span class=\"body-text\"><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">OPEC+ cuts production by 2million bbl\/d<\/span><\/span><span style=\"font-size: 10.5pt;\"><\/span><\/span><\/li><\/ul><p style=\"mso-line-height-alt: 14.25pt; margin: 12.0pt 0cm 7.5pt 0cm;\"><span style=\"text-decoration: inherit;\"><span class=\"h3\"><b><span style=\"font-size: 15.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\"><!--\n-->Nord Stream<\/span><\/b><\/span><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.656; margin-right: 27pt; text-align: justify; background-color: #ffffff; margin-top: 0pt; margin-bottom: 0pt; padding: 0pt 0pt 10pt 0pt;\"><span class=\"body-text\"><span style=\"background-color: inherit;\"><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-fareast-theme-font: minor-fareast; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm; mso-ansi-language: EN-CA; mso-fareast-language: EN-GB; mso-bidi-language: AR-SA;\"><!--\n--><span style=\"text-decoration: inherit; background-color: inherit;\"><span style=\"background-color: inherit;\"><!--\n-->The Nord Stream pipelines connect Russia to Germany via the Baltic Sea. Nord Stream 1 historically supplied the EU with ~35% of the total gas imported from Russia; Nord Stream 2 (which was on track to be operational in the first half of 2022) is equally as large.<\/span><\/span><\/span><\/span><\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-04fa870 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"04fa870\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8adf9d8\" data-id=\"8adf9d8\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2b9c3b4 elementor-widget elementor-widget-image\" data-id=\"2b9c3b4\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"711\" height=\"521\" src=\"https:\/\/resourceinsider.com\/wp-content\/uploads\/2022\/10\/Nordstream.png\" class=\"attachment-large size-large wp-image-23161\" alt=\"\" srcset=\"https:\/\/resourceinsider.com\/wp-content\/uploads\/2022\/10\/Nordstream.png 711w, https:\/\/resourceinsider.com\/wp-content\/uploads\/2022\/10\/Nordstream-300x220.png 300w\" sizes=\"(max-width: 711px) 100vw, 711px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-caf183e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"caf183e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fbb02c4\" data-id=\"fbb02c4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-32eb8aa elementor-widget elementor-widget-text-editor\" data-id=\"32eb8aa\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><span><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">Both Nord Stream 1 and 2 are down after suffering catastrophic losses of pressure. No one is exactly sure what happened to the pipelines, but the Swedish Security Service said that they found evidence of detonations and have high suspicions of &#8220;gross sabotage.&#8221;<\/span><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/p><p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><!-- --><span style=\"text-decoration: inherit;\"><span><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">No matter who attacked the pipelines, the results are clear: <b><i>Europe is in for a very tough winter.<\/i><\/b><\/span><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/span><\/p><p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><span style=\"text-decoration: inherit;\"><span><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\"><!-- --><!-- -->It\u2019s estimated that it will take at least 20-25 weeks just to get all of the materials and equipment in place to repair the pipelines. Meaning that there is no way to repair the pipelines for at least 6 months\u2026 Probably much longer.<\/span><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/span><\/p><p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><span style=\"text-decoration: inherit;\"><span><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\"><span><span style=\"font-size: 12pt; border: 1pt none windowtext; padding: 0cm;\">This leaves Europe <\/span><i><\/i><\/span><i>very<\/i><!--\n--> short on energy heat homes this winter. Protesters are claiming\u00a0 they will be forced to choose between eating or heating their homes.<\/span><\/span><\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e4cec6f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e4cec6f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-cc6c840\" data-id=\"cc6c840\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c9b9b1c elementor-widget elementor-widget-image\" data-id=\"c9b9b1c\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"832\" height=\"602\" src=\"https:\/\/resourceinsider.com\/wp-content\/uploads\/2022\/10\/heat-or-eat.png\" class=\"attachment-large size-large wp-image-23160\" alt=\"\" srcset=\"https:\/\/resourceinsider.com\/wp-content\/uploads\/2022\/10\/heat-or-eat.png 832w, https:\/\/resourceinsider.com\/wp-content\/uploads\/2022\/10\/heat-or-eat-300x217.png 300w, https:\/\/resourceinsider.com\/wp-content\/uploads\/2022\/10\/heat-or-eat-768x556.png 768w\" sizes=\"(max-width: 832px) 100vw, 832px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2fbe3bf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2fbe3bf\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-136a444\" data-id=\"136a444\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b910190 elementor-widget elementor-widget-text-editor\" data-id=\"b910190\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><span class=\"body-text\"><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">The damage to the pipelines means that Russia just lost substantial physical capacity to transport natural gas to Europe, even if current sanctions are removed. With the loss of the pipelines, also comes the loss of any leverage for Europe to bring Russia to a compromise over the Ukraine invasion\u2026 Which just made this war much more complicated.\u00a0<\/span><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/p><p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><!--\n--><span style=\"text-decoration: inherit;\"><span class=\"body-text\"><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">We should all be paying close attention to the pipelines connecting Russia to Europe via Ukraine. These pipelines just became essential to the EU.\u00a0<\/span><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/span><\/p><p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><span class=\"body-text\"><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-fareast-theme-font: minor-fareast; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm; mso-ansi-language: EN-CA; mso-fareast-language: EN-GB; mso-bidi-language: AR-SA;\"><!--\n--><span style=\"text-decoration: inherit;\"><!--\n-->If Ukraine was looking for leverage to join the EU and\/or Nato\u2026 They just got it.<\/span><\/span><\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f2d04a6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f2d04a6\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fdaf76e\" data-id=\"fdaf76e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c4da9d9 elementor-widget elementor-widget-image\" data-id=\"c4da9d9\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/resourceinsider.com\/wp-content\/uploads\/2022\/10\/gas-pipes-to-eu-1024x1024.jpeg\" class=\"attachment-large size-large wp-image-23158\" alt=\"\" srcset=\"https:\/\/resourceinsider.com\/wp-content\/uploads\/2022\/10\/gas-pipes-to-eu-1024x1024.jpeg 1024w, https:\/\/resourceinsider.com\/wp-content\/uploads\/2022\/10\/gas-pipes-to-eu-300x300.jpeg 300w, https:\/\/resourceinsider.com\/wp-content\/uploads\/2022\/10\/gas-pipes-to-eu-150x150.jpeg 150w, https:\/\/resourceinsider.com\/wp-content\/uploads\/2022\/10\/gas-pipes-to-eu-768x768.jpeg 768w, https:\/\/resourceinsider.com\/wp-content\/uploads\/2022\/10\/gas-pipes-to-eu.jpeg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1a6635f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1a6635f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-66d082b\" data-id=\"66d082b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3268289 elementor-widget elementor-widget-text-editor\" data-id=\"3268289\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"mso-line-height-alt: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><span><b><span style=\"font-size: 15.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">US Petroleum Stocks<\/span><\/b><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/p><p><span><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-fareast-theme-font: minor-fareast; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm; mso-ansi-language: EN-CA; mso-fareast-language: EN-GB; mso-bidi-language: AR-SA;\"><!--\n-->The\u00a0<\/span><\/span><span style=\"color: black; font-family: 'Trebuchet MS', sans-serif; font-size: 12pt; text-decoration-line: inherit;\">US\u2019s Energy Information Administration (EIA) releases a weekly inventory report\u00a0<\/span><span style=\"color: black; font-family: 'Trebuchet MS', sans-serif; font-size: 12pt; text-decoration-line: inherit;\">&#8211; this week\u2019s was quite telling.\u00a0<\/span><\/p><p><span style=\"color: black; font-family: 'Trebuchet MS', sans-serif; font-size: 12pt; text-decoration-line: inherit;\">Two noteworthy items:<\/span><\/p><ul><li style=\"line-height: 14.25pt;\"><span style=\"color: black; font-family: 'Trebuchet MS', sans-serif; font-size: 12pt;\">Gasoline demand increased<\/span><\/li><li style=\"color: #2b2c33; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 14.25pt; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;\"><span><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-fareast-theme-font: minor-fareast; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm; mso-ansi-language: EN-CA; mso-fareast-language: EN-GB; mso-bidi-language: AR-SA;\"><!-- -->Total petroleum stocks fell below the 5-year low once again<\/span><\/span><\/li><\/ul><p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d8092a0 elementor-widget elementor-widget-image\" data-id=\"d8092a0\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"579\" src=\"https:\/\/resourceinsider.com\/wp-content\/uploads\/2022\/10\/EIA-weekly-oct-5-2022-1024x579.jpg\" class=\"attachment-large size-large wp-image-23159\" alt=\"\" srcset=\"https:\/\/resourceinsider.com\/wp-content\/uploads\/2022\/10\/EIA-weekly-oct-5-2022-1024x579.jpg 1024w, https:\/\/resourceinsider.com\/wp-content\/uploads\/2022\/10\/EIA-weekly-oct-5-2022-300x170.jpg 300w, https:\/\/resourceinsider.com\/wp-content\/uploads\/2022\/10\/EIA-weekly-oct-5-2022-768x434.jpg 768w, https:\/\/resourceinsider.com\/wp-content\/uploads\/2022\/10\/EIA-weekly-oct-5-2022-1536x869.jpg 1536w, https:\/\/resourceinsider.com\/wp-content\/uploads\/2022\/10\/EIA-weekly-oct-5-2022-2048x1159.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-13d1ca1 elementor-widget elementor-widget-text-editor\" data-id=\"13d1ca1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><span class=\"body-text\"><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">In short, demand is strong and supply is struggling to keep up in a big way. Petroleum stocks haven\u2019t been this low since 2004.<\/span><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/p><p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><span style=\"text-decoration: inherit;\"><span class=\"body-text\"><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\"><!--\n--><!--\n-->What made this particularly\u00a0 important is that\u00a0 a few hours later it was announced that\u2026<\/span><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/span><\/p><p style=\"mso-line-height-alt: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><span style=\"text-decoration: inherit;\"><!--\n--><span style=\"text-decoration: inherit;\"><span class=\"h3\"><b><span style=\"font-size: 15.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">OPEC+ Cuts Production<\/span><\/b><\/span><\/span><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/p><p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><!--\n--><span style=\"text-decoration: inherit;\"><span class=\"body-text\"><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">OPEC+ is a group of 23 oil-exporting countries that decide how much crude oil to sell on the global market.<\/span><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/span><\/p><p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><span style=\"text-decoration: inherit;\"><span class=\"body-text\"><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\"><!--\n--><!--\n-->At the core of this group are the 13 original members of OPEC (the Organization of Oil Exporting Countries), which consist of mostly Middle Eastern and African countries. OPEC was formed in 1960 as a cartel, with the aim of fixing the worldwide supply of oil and its price.<\/span><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/span><\/p><p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><!--\n--><span style=\"text-decoration: inherit;\"><span class=\"body-text\"><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">Today, OPEC+ nations produce around 40% of the world&#8217;s crude oil; the two biggest producers being Saudi Arabia and Russia.<\/span><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/span><\/p><p><span class=\"body-text\"><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; mso-fareast-font-family: 'Times New Roman'; mso-fareast-theme-font: minor-fareast; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm; mso-ansi-language: EN-CA; mso-fareast-language: EN-GB; mso-bidi-language: AR-SA;\"><!--\n--><span style=\"text-decoration: inherit;\"><!--\n-->Just a few weeks ago it was reported that Russian President Vladimir Putin met with Saudi Crown Prince Mohammed bin Salman (MBS) suggesting that OPEC+ cut production.<\/span><\/span><\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-238711f elementor-widget elementor-widget-image\" data-id=\"238711f\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"829\" height=\"250\" src=\"https:\/\/resourceinsider.com\/wp-content\/uploads\/2022\/10\/outin-MBS.png\" class=\"attachment-large size-large wp-image-23162\" alt=\"\" srcset=\"https:\/\/resourceinsider.com\/wp-content\/uploads\/2022\/10\/outin-MBS.png 829w, https:\/\/resourceinsider.com\/wp-content\/uploads\/2022\/10\/outin-MBS-300x90.png 300w, https:\/\/resourceinsider.com\/wp-content\/uploads\/2022\/10\/outin-MBS-768x232.png 768w\" sizes=\"(max-width: 829px) 100vw, 829px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cc41939 elementor-widget elementor-widget-text-editor\" data-id=\"cc41939\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><span><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">Those suggestions became a reality as OPEC+ agreed to cut production by 2 million barrels per day.\u00a0<\/span><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/p><p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><span style=\"text-decoration: inherit;\"><span><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\"><!-- --><!-- -->Given the fact that OPEC+ has struggled to meet their production quotas, this cut will more likely look like a cut of ~900,000 barrels per day to the current supply.<\/span><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/span><\/p><p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><span style=\"text-decoration: inherit;\"><!-- --><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">Most of that production cut will come from nations that have a complicated history with the west: Saudi Arabia (48%), UAE (16%), Kuwait (15%), and Iraq (11%).<\/span><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/p><p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><span style=\"text-decoration: inherit;\"><span><!-- --><i><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">What drove the production cuts?<\/span><\/i><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/span><\/p><p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><span style=\"text-decoration: inherit;\"><!-- --><span><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">The United Arab Emirates\u2019 (UAE) energy minister, Suhail Al Mazrouei, said that the group was solely focused on avoiding an oil price crash similar to 2008.\u00a0<\/span><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/span><\/p><p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><!-- --><span style=\"text-decoration: inherit;\"><span><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">Mazrouei said \u201cIn Europe they have their story, in Russia they have their own story. We can\u2019t\u00a0 be siding with this country or that country.\u201d\u00a0<\/span><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/span><\/p><p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><span style=\"text-decoration: inherit;\"><span><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\"><!-- --><!-- -->With a recession looming OPEC+ is most concerned about keeping a finger on the pulse of global oil supply and demand to maintain profitable prices.<\/span><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/span><\/p><p style=\"mso-line-height-alt: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><span style=\"text-decoration: inherit;\"><!-- --><b><span style=\"font-size: 15.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">The takeaway?<\/span><\/b><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/p><p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><span style=\"text-decoration: inherit;\"><span><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\"><!-- -->Oil and gas prices will likely head lower in the short term if the world heads into a recession, but they won\u2019t be staying low for long. OPEC+ is determined to keep prices high even in the midst of a recessionary environment.<\/span><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/span><\/p><p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><!-- --><span style=\"text-decoration: inherit;\"><span><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">Remember, recessions massively impact oil and gas markets. Inventories rise when, and only when, the business cycle slows; this in turn leads to <i><u>lower production capacity<\/u><\/i>.<\/span><!-- --><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/span><\/p><p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><span style=\"text-decoration: inherit;\"><span><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\"><!-- -->The world is short on energy supply and any reduction in production capacity will have a longstanding impact on the market. This will only be righted through significant investment in new production.<\/span><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/span><\/p><p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><span style=\"text-decoration: inherit;\"><!-- --><span><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">Unfortunately, the US is working hard to beat the EU in the global \u201cidiodic energy policy competition\u201d.\u00a0<\/span><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/span><\/p><p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><!-- --><span style=\"text-decoration: inherit;\"><span><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">Here\u2019s a short summary of some of the current administration\u2019s noteworthy policy decisions:<\/span><\/span><span style=\"font-size: 10.5pt; color: #2b2c33;\"><\/span><\/span><\/p><ul type=\"disc\"><li style=\"color: #2b2c33; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 14.25pt; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;\"><!-- --><span style=\"text-decoration: inherit;\"><span><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">Kill Keystone XL pipeline on Day 1<\/span><\/span><span style=\"font-size: 10.5pt;\"><\/span><\/span><\/li><li style=\"color: #2b2c33; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 14.25pt; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;\"><!-- --><span style=\"text-decoration: inherit;\"><span><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">Drain the Strategic Petroleum Reserves (SPR) before midterm elections<\/span><\/span><span style=\"font-size: 10.5pt;\"><\/span><\/span><\/li><li style=\"color: #2b2c33; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 14.25pt; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;\"><!-- --><span style=\"text-decoration: inherit;\"><span><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">Tell oil and gas producers to lower prices at the pump\u2026. Seriously WTF?!?!<\/span><\/span><span style=\"font-size: 10.5pt;\"><\/span><\/span><\/li><li style=\"color: #2b2c33; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 14.25pt; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;\"><!-- --><span style=\"text-decoration: inherit;\"><span><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">Beg Saudi Arabia and Russia to produce more oil<\/span><\/span><span style=\"font-size: 10.5pt;\"><\/span><\/span><\/li><li style=\"color: #2b2c33; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 14.25pt; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;\"><!-- --><span style=\"text-decoration: inherit;\"><span><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">Contemplate banning exports on refined products and gas<\/span><\/span><span style=\"font-size: 10.5pt;\"><\/span><\/span><\/li><li style=\"color: #2b2c33; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 14.25pt; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt;\"><!-- --><span style=\"text-decoration: inherit;\"><span><span style=\"font-size: 12.0pt; font-family: 'Trebuchet MS',sans-serif; color: black; border: none windowtext 1.0pt; mso-border-alt: none windowtext 0cm; padding: 0cm;\">Lift Venezuelan sanctions to import more oil<\/span><\/span><\/span><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-880867c elementor-widget elementor-widget-text-editor\" data-id=\"880867c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"line-height: 14.25pt; margin: 0cm 0cm 7.5pt 0cm;\"><span style=\"color: black; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-size: 12pt; text-decoration-line: inherit;\">If you\u2019re not long oil, you might want to reconsider\u2026&nbsp;<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-013408e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"013408e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d5177e5\" data-id=\"d5177e5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f4c45e4 elementor-widget elementor-widget-spacer\" data-id=\"f4c45e4\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c67aa4f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c67aa4f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-6d21444\" data-id=\"6d21444\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-09efc94 elementor-author-box--layout-image-left elementor-author-box--align-left elementor-author-box--image-valign-middle elementor-widget elementor-widget-author-box\" data-id=\"09efc94\" data-element_type=\"widget\" data-widget_type=\"author-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<link rel=\"stylesheet\" href=\"https:\/\/resourceinsider.com\/wp-content\/plugins\/elementor-pro\/assets\/css\/widget-theme-elements.min.css\">\t\t<div class=\"elementor-author-box\">\n\t\t\t\t\t\t\t<div  class=\"elementor-author-box__avatar\">\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/resourceinsider.com\/wp-content\/uploads\/2021\/11\/jamie-img.jpg\" alt=\"Jamie Keech\" loading=\"lazy\">\n\t\t\t\t<\/div>\n\t\t\t\n\t\t\t<div class=\"elementor-author-box__text\">\n\t\t\t\t\t\t\t\t\t<div >\n\t\t\t\t\t\t<h4 class=\"elementor-author-box__name\">\n\t\t\t\t\t\t\tJamie Keech\t\t\t\t\t\t<\/h4>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-author-box__bio\">\n\t\t\t\t\t\t<p>CIO; Editor<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-bfa933b\" data-id=\"bfa933b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-dd9748d elementor-author-box--image-valign-middle elementor-widget elementor-widget-author-box\" data-id=\"dd9748d\" data-element_type=\"widget\" data-widget_type=\"author-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-author-box\">\n\t\t\t\t\t\t\t<div  class=\"elementor-author-box__avatar\">\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/resourceinsider.com\/wp-content\/uploads\/2022\/09\/Nick-DOnofrio-300x300.png\" alt=\"Nick D&#039;Onofrio\" loading=\"lazy\">\n\t\t\t\t<\/div>\n\t\t\t\n\t\t\t<div class=\"elementor-author-box__text\">\n\t\t\t\t\t\t\t\t\t<div >\n\t\t\t\t\t\t<h4 class=\"elementor-author-box__name\">\n\t\t\t\t\t\t\tNick D'Onofrio\t\t\t\t\t\t<\/h4>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-author-box__bio\">\n\t\t\t\t\t\t<p>Head of Research<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c5b2249 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c5b2249\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-62bce95\" data-id=\"62bce95\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8ead305 elementor-widget elementor-widget-spacer\" data-id=\"8ead305\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c2581c1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c2581c1\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5bc4671\" data-id=\"5bc4671\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-80e8ee3 elementor-share-buttons--skin-boxed elementor-share-buttons--shape-circle elementor-share-buttons--align-center elementor-share-buttons--view-icon-text elementor-grid-0 elementor-share-buttons--color-official elementor-widget elementor-widget-share-buttons\" data-id=\"80e8ee3\" data-element_type=\"widget\" data-widget_type=\"share-buttons.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<link rel=\"stylesheet\" href=\"https:\/\/resourceinsider.com\/wp-content\/plugins\/elementor-pro\/assets\/css\/widget-share-buttons.min.css\">\t\t<div class=\"elementor-grid\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-grid-item\">\n\t\t\t\t\t\t<div\n\t\t\t\t\t\t\tclass=\"elementor-share-btn elementor-share-btn_facebook\"\n\t\t\t\t\t\t\trole=\"button\"\n\t\t\t\t\t\t\ttabindex=\"0\"\n\t\t\t\t\t\t\taria-label=\"Share on facebook\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__icon\">\n\t\t\t\t\t\t\t\t<svg class=\"e-font-icon-svg e-fab-facebook\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M504 256C504 119 393 8 256 8S8 119 8 256c0 123.78 90.69 226.38 209.25 245V327.69h-63V256h63v-54.64c0-62.15 37-96.48 93.67-96.48 27.14 0 55.52 4.84 55.52 4.84v61h-31.28c-30.8 0-40.41 19.12-40.41 38.73V256h68.78l-11 71.69h-57.78V501C413.31 482.38 504 379.78 504 256z\"><\/path><\/svg>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-share-btn__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__title\">\n\t\t\t\t\t\t\t\t\t\tFacebook\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-grid-item\">\n\t\t\t\t\t\t<div\n\t\t\t\t\t\t\tclass=\"elementor-share-btn elementor-share-btn_twitter\"\n\t\t\t\t\t\t\trole=\"button\"\n\t\t\t\t\t\t\ttabindex=\"0\"\n\t\t\t\t\t\t\taria-label=\"Share on twitter\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__icon\">\n\t\t\t\t\t\t\t\t<svg class=\"e-font-icon-svg e-fab-twitter\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M459.37 151.716c.325 4.548.325 9.097.325 13.645 0 138.72-105.583 298.558-298.558 298.558-59.452 0-114.68-17.219-161.137-47.106 8.447.974 16.568 1.299 25.34 1.299 49.055 0 94.213-16.568 130.274-44.832-46.132-.975-84.792-31.188-98.112-72.772 6.498.974 12.995 1.624 19.818 1.624 9.421 0 18.843-1.3 27.614-3.573-48.081-9.747-84.143-51.98-84.143-102.985v-1.299c13.969 7.797 30.214 12.67 47.431 13.319-28.264-18.843-46.781-51.005-46.781-87.391 0-19.492 5.197-37.36 14.294-52.954 51.655 63.675 129.3 105.258 216.365 109.807-1.624-7.797-2.599-15.918-2.599-24.04 0-57.828 46.782-104.934 104.934-104.934 30.213 0 57.502 12.67 76.67 33.137 23.715-4.548 46.456-13.32 66.599-25.34-7.798 24.366-24.366 44.833-46.132 57.827 21.117-2.273 41.584-8.122 60.426-16.243-14.292 20.791-32.161 39.308-52.628 54.253z\"><\/path><\/svg>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-share-btn__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__title\">\n\t\t\t\t\t\t\t\t\t\tTwitter\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-grid-item\">\n\t\t\t\t\t\t<div\n\t\t\t\t\t\t\tclass=\"elementor-share-btn elementor-share-btn_linkedin\"\n\t\t\t\t\t\t\trole=\"button\"\n\t\t\t\t\t\t\ttabindex=\"0\"\n\t\t\t\t\t\t\taria-label=\"Share on linkedin\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__icon\">\n\t\t\t\t\t\t\t\t<svg class=\"e-font-icon-svg e-fab-linkedin\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 32H31.9C14.3 32 0 46.5 0 64.3v383.4C0 465.5 14.3 480 31.9 480H416c17.6 0 32-14.5 32-32.3V64.3c0-17.8-14.4-32.3-32-32.3zM135.4 416H69V202.2h66.5V416zm-33.2-243c-21.3 0-38.5-17.3-38.5-38.5S80.9 96 102.2 96c21.2 0 38.5 17.3 38.5 38.5 0 21.3-17.2 38.5-38.5 38.5zm282.1 243h-66.4V312c0-24.8-.5-56.7-34.5-56.7-34.6 0-39.9 27-39.9 54.9V416h-66.4V202.2h63.7v29.2h.9c8.9-16.8 30.6-34.5 62.9-34.5 67.2 0 79.7 44.3 79.7 101.9V416z\"><\/path><\/svg>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-share-btn__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__title\">\n\t\t\t\t\t\t\t\t\t\tLinkedIn\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Here are some headlines: Nord Stream 1 and 2 are down; US petroleum stocks are below the 5yr low; OPEC+ cuts production by 2million bbl\/d<\/p>\n","protected":false},"author":874,"featured_media":23160,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[26],"tags":[],"_links":{"self":[{"href":"https:\/\/resourceinsider.com\/wp-json\/wp\/v2\/posts\/23155"}],"collection":[{"href":"https:\/\/resourceinsider.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/resourceinsider.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/resourceinsider.com\/wp-json\/wp\/v2\/users\/874"}],"replies":[{"embeddable":true,"href":"https:\/\/resourceinsider.com\/wp-json\/wp\/v2\/comments?post=23155"}],"version-history":[{"count":11,"href":"https:\/\/resourceinsider.com\/wp-json\/wp\/v2\/posts\/23155\/revisions"}],"predecessor-version":[{"id":23186,"href":"https:\/\/resourceinsider.com\/wp-json\/wp\/v2\/posts\/23155\/revisions\/23186"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/resourceinsider.com\/wp-json\/wp\/v2\/media\/23160"}],"wp:attachment":[{"href":"https:\/\/resourceinsider.com\/wp-json\/wp\/v2\/media?parent=23155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/resourceinsider.com\/wp-json\/wp\/v2\/categories?post=23155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/resourceinsider.com\/wp-json\/wp\/v2\/tags?post=23155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}