IIR's December 27 Market Scorecard Brings You Breaking Geopolitical News

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IIR's December 27 Market Scorecard Brings You Breaking Geopolitical News Researched by Industrial Info Resources (Sugar Land, Texas)--Stay current with the latest geopolitical events, and more importantly, instantly connect to how these events may impact you and your business strategies.

Event	MarCon*	IIR Comment	Outlet	IIR News
$100 Oil To Return In 2023		Eric Nuttall, partner and senior portfolio manager at Ninepoint Partners LP, has told the Financial Post that oil prices will return to $100 per barrel in 2023. According to the analysts, many of the headwinds that have cut short the oil price rally this year including China's zero-Covid policy and the coordinated SPR releases by several governments, will no longer be there in 2023. Coupled with sanctions on Russia's oil and gas, this should elevate oil prices... Nutall is not the only bull here. Last week, the Bank of America predicted that Brent could quickly go past $90 per barrel on the back of a dovish pivot in the U.S. Federal Reserve and a "successful" economic reopening by China.	OilPrice	Texas Oil Patch Job Prospects Are Merry and Bright
Winter Storm Slams US Refineries		Low temperatures caused by the winter storm have resulted in operational headaches on Friday for a number of refineries and chemical plants across the U.S.	IIRNews	Winter Storm Slams U.S. Refineries
WTI Oil Eyeing Further Gains Following Yesterday's Pause		Crude Oil rallied higher Friday morning on the back of a pause Thursday following a rise in the US dollar and renewed concerns around China. The US dollar benefitted following another batch of positive US data, further strengthened the case for further monetary tightening.	DailyFX	TC Energy Awaits Federal Nod on Keystone
Oil rises $3/bbl after Russia signals output cut due to price cap		Oil prices settled about $3 per barrel higher on Friday for a second straight week of gains after Moscow said it could cut crude output in response to the G7 price cap on Russian exports... Russia may cut oil output by 5% to 7% in early 2023 as it responds to price caps, the RIA news agency cited Deputy Prime Minister Alexander Novak as saying on Friday. "The potential cut from Russia could be giving the bulls more fuel," said Eli Tesfaye, senior market strategist at RJO Futures. "If global demand continues at current pace, that cut could have a significant impact and we may stay in the $80s range."	FXEmpire	Exxon, Chevron Unveil New Spending Plans
Japan minister signs clean energy cooperation document during Saudi visit		Saudi Arabia and Japan signed a memorandum of cooperation (MoC) on Sunday in the fields of the circular carbon economy, carbon recycling, clean hydrogen and fuel ammonia, the Saudi Energy Ministry said on Twitter. The MoC was signed by Saudi Energy Minister Prince Abdulaziz bin Salman and Japanese Industry Minister Yasutoshi Nishimura, who is visiting the kingdom, after a meeting in which they both stressed the importance of supporting the stability of global oil markets through encouraging dialogue and cooperation between producers and consumers, the Saudi state news agency (SPA) reported.	Reuters	Middle East to Invest US$655 Million for Chem Plant Maintenance
Week 12/19/22 - 12/26/22		Happy Ho Ho Headache Holidaze. Old Man Winter tumbled out of bed and slammed the US with an Artic Freeze this past week which has led - according to IIR's research - to "..operational headaches for a number of refineries & chemical plants..". But these are not the "..only headaches.." the oil markets could be dealing with as Russia is pondering cutting crude in a response to the "..price cap on their exports..". And, Mr. Oil Market is getting ready for the New Year's fireworks as pundits are once again predicting a return to $100+ oil. Oy vey..
*MarCon (Market Condition 1-5, with 5 being the highest impact) indicates directional bias or price effect for the relevant commodity (Oil, Natural Gas, Chemicals, etc.) and is graded by our team of experts here at IIR.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).

Word count: 1076 Pop: Stay current with the latest geopolitical events, and more importantly, instantly connect to how these events may impact you and your business strategies Abstract December 19, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--Stay current with the latest geopolitical events, and more importantly, instantly connect to how these events may impact you and your business strategies.