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Home > Energy Week > Episode 133 - Oil prices rise on back of COVID vaccine news | China set to eclipse America as world’s biggest oil refiner
Podcast: Energy Week
Episode:

Episode 133 - Oil prices rise on back of COVID vaccine news | China set to eclipse America as world’s biggest oil refiner
Category: Government & Organizations
Duration: 00:46:42
Publish Date: 2020-11-24 07:05:03
Description: https://shor.by/WarRoom14DayFreeTrial

Oil prices rise on back of COVID vaccine news
https://www.reuters.com/article/us-global-oil/oil-prices-rise-on-back-of-covid-vaccine-news-idUSKBN283021?il=0
- WTI is up to $43 and Brent $45 on vaccine news
- demand still down, travel low, is the market actually looking at the numbers year-on-year or compared to 2 weeks ago.
- market sentiment is detached from “gloomy fundamentals”

China set to eclipse America as world’s biggest oil refiner
https://economictimes.indiatimes.com/markets/commodities/news/china-set-to-eclipse-america-as-worlds-biggest-oil-refiner/articleshow/79348148.cms
- Is there enough ill will in DC towards China to keep Biden from going to China with open arms.
- Now that China has started storing so much oil, its a natural step for China to build its refining and petrochemicals capacity
- Meanwhile, plants in the U.S. are closing.
- Could there be a time when the U.S. or Europe are dependent on China for source of refined products/petrochemicals

Modi says India set to double oil refining capacity in five years, earlier than expected
https://www.reuters.com/article/us-india-energy-modi/modi-says-india-set-to-double-oil-refining-capacity-in-5-years-earlier-than-expected-idUSKBN2810FN
- Long term oil market very bullish
- India has a lot of taxes on its oil, perhaps will use domestically refined fuels to lower taxes on individuals

Abu Dhabi boosts reserves with unconventional oil
https://www.argusmedia.com/en/news/2162302-abu-dhabi-boosts-reserves-with-unconventional-oil
- Does it really matter whether its conventional or unconventional oil when it comes to cost?
- approved $122 billion in capex over next 5 years! Huge investment especially compared what others are spending.

Israel’s Netanyahu, Saudi Crown Prince Hold First Known Meeting
https://www.wsj.com/articles/israels-netanyahu-meets-saudi-crown-prince-hebrew-media-says-11606120497

Israeli Reports Say Netanyahu Met Saudi Crown Prince, but Saudis Deny It
https://www.nytimes.com/2020/11/23/world/middleeast/netanyahu-mohammed-bin-salman.html

- Could be discussing how to screw over Iran more or it could portend a peace deal?
- Will the Saudi people accept a deal with Israel or not?
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