Oil Bulls Stick to Their Guns Ahead of Make-or-Break OPEC Summit - Bloomberg

Oil Bulls Stick to Their Guns Ahead of Make-or-Break OPEC Summit - Bloomberg:

OPEC can make or break oil’s bull run, and hedge funds are betting the cartel will keep fueling the rally.

 Money managers increased wagers on rising West Texas Intermediate and Brent crude prices to the highest since October ahead of a key meeting of top exporters in Azerbaijan over the weekend.

 “As long as we come out of the weekend with stasis, the hedge funds will consider that a positive sign and will continue to support the bull run,” said Ashley Petersen, an oil analyst at Stratas Advisors LLC in New York.

The week in energy: The climate crisis for oil and gas | Financial Times

The week in energy: The climate crisis for oil and gas | Financial Times:

This has been the week of CERAWeek, IHS Market’s mammoth conference in Houston, described by Neil Chatterjee, chairman of the US Federal Energy Regulatory Commission, as “the Super Bowl of energy”. It was an appropriate analogy, given that the dominant theme of the week was competition, and in particular the potential for increasingly intense rivalry between oil and gas companies in a world of tightening constraints on greenhouse gas emissions. Wael Sawan, Royal Dutch Shell’s new head of exploration and production, told the Financial Times that when world oil production starts to decline, “we need to be able to be the last ones standing”.