Released January 25, 2022 | SUGAR LAND
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Energy Market highlights gathered by Industrial Info and IIR Energy
CRUDE OIL
Morgan Stanley Expects $100 Oil in Second Half of Year - Morgan Stanley (NYSE:MS) (New York, New York) expects Brent crude oil prices to advance to $100 a barrel in the second half of this year, with the market heading for a simultaneous "triple deficit" of inventories, spare capacity and investment. The bank raised its price forecasts for Brent crude oil to $100 a barrel for the last two quarters of the year, up from the $90 and $87.50 previously estimated for the third and fourth quarters, respectively. (Reuters)
U.S. Oil Exports Stay Strong - U.S. crude oil exports are ramping up due to increasing demand from Asia and Europe and recovering U.S. production from the lows of the coronavirus pandemic. U.S. seaborne crude oil exports have increased in recent weeks and are close to 3 million barrels per day (BBL/d) so far this month, according to Matt Smith, lead oil analyst for the Americas at Kpler (Houston, Texas). That's slightly less than the 3.2 million BBL/d average in crude oil exports in December, which was the strongest month since February 2020, he said. (Reuters)
EARNINGS REPORTS
Haliburton Doubles Quarterly Profit - Oilfield service provider Halliburton Company's (NYSE:HAL) (Houston) fourth-quarter 2021 adjusted profit doubled from a year earlier, it said on Monday. Halliburton's fourth quarter adjusted net income totaled $320 million. Adjusted net income was $160 million in the same quarter of 2020. (Reuters)
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About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
CRUDE OIL
Morgan Stanley Expects $100 Oil in Second Half of Year - Morgan Stanley (NYSE:MS) (New York, New York) expects Brent crude oil prices to advance to $100 a barrel in the second half of this year, with the market heading for a simultaneous "triple deficit" of inventories, spare capacity and investment. The bank raised its price forecasts for Brent crude oil to $100 a barrel for the last two quarters of the year, up from the $90 and $87.50 previously estimated for the third and fourth quarters, respectively. (Reuters)
U.S. Oil Exports Stay Strong - U.S. crude oil exports are ramping up due to increasing demand from Asia and Europe and recovering U.S. production from the lows of the coronavirus pandemic. U.S. seaborne crude oil exports have increased in recent weeks and are close to 3 million barrels per day (BBL/d) so far this month, according to Matt Smith, lead oil analyst for the Americas at Kpler (Houston, Texas). That's slightly less than the 3.2 million BBL/d average in crude oil exports in December, which was the strongest month since February 2020, he said. (Reuters)
EARNINGS REPORTS
Haliburton Doubles Quarterly Profit - Oilfield service provider Halliburton Company's (NYSE:HAL) (Houston) fourth-quarter 2021 adjusted profit doubled from a year earlier, it said on Monday. Halliburton's fourth quarter adjusted net income totaled $320 million. Adjusted net income was $160 million in the same quarter of 2020. (Reuters)
About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
