IIR's December 30th 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.

IIR's Market Scorecard gives you the breaking news headlines from around the world, along with the directional impact to commodities, with expert indicators, and live links to IIR key research so you instantly have the details you need and make the right decisions.

Wednesday, December 30th, 2020:

Event	MarCon*	IIR Comment	IIR Links	Outlet
Analysts say oil demand will not fully recover until 2022		"Global oil demand will likely take another year or so to return to pre-pandemic levels--by late 2021 or early 2022, according to IHS Markit. Other analysts see something similar. A "full-fledged demand recovery is shaping up to be a 2022 story, with the 2021 exit rate getting close but not quite at pre-COVID levels," Raymond James wrote in a note. Developing countries will face structural hurdles to vaccination programs, resulting in a drawn-out recovery."	NavigatIIR: Oil & Gas Developers in Gulf of Mexico Prep for $12.4 Billion in 2021 Projects Starts	OilPrice
Natural gas will play a key role in the shift to renewable energy, but will it provide good returns?		Although natural gas is a much cheaper and greener alternative to oil, the profit margins are not quite there yet. In addition, unlike the oil industry, there is no "OPEC+" to determine healthy prices and/or supply/demand and thus, gas gluts have been killing prices in previous years. Is this to change in years to come to help transition out of fossil fuel?	Cheniere Moves Corpus Christi LNG Train 3 into Commissioning, an Industrial Info Market Brief	WSJ
LNG price rise improves U.S. export prospects		"A sharp rise in global prices for natural gas is proving a relief for companies seeking to export more of the fuel from the U.S., after a year of setbacks from coronavirus and glutted supply. Liquefied natural gas delivered into east Asia surged above $10 per million British thermal units in Asia this month on the back of cold weather and supply interruptions. The rally spilled into Europe, with gas in the U.K. selling for a third more than a year ago."	U.S. DOE Eases Restrictions for LNG Export Licensing, an Industrial Info Market Brief	Energy Bulletin
China Grabs Control Of LNG Infrastructure In Move To Bolster Energy Security		"...Beijing has announced that it will be reaching peak emissions in just ten years and then bringing its currently considerable carbon footprint all the way down to zero by just 2060. China's decision to double down on renewable energy has far more to do with energy security--one of Beijing's primary concerns. China's voracious appetite for energy has so far been met with huge volumes of foreign energy imports, and China is doing everything in its power to wean itself off of foreign fossil fuels and become an energy producing giant in its own right. So far that has involved making aggressive moves into largely undeveloped foreign energy markets, ramping up coal production abroad where the emissions will not be attributed to China but to the countries where China is now operating, and big investment into nuclear energy."	China's Natural Gas Output Jumps 11.8% Year Over Year in November, an Industrial Info Market Brief	OilPrice
Japan aims to eliminate gasoline vehicles by mid-2030s		"Japan aims to eliminate gasoline-powered vehicles in the next 15 years, the government said on Friday in a plan to reach net zero carbon emissions and generate nearly $2 trillion a year in green growth by 2050."	Europe To Stop Funding Oil & Gas Infrastructure Projects	Reuters
Weekly Recap: 12/23-12/30		Leaving behind. Many will be only too happy to leave 2020 in their rear-view mirrors, waving "bye bye." However, the ramifications of what transpired in this past year will be with us for decades to come. Oil majors realize if they wish to still strut on the world's stage, they will need to re-invent themselves as part of the overall greening, i.e. the world/decarbonization stories, which are unfolding. Oil majors are becoming renewable energy majors, although fossil fuels will be extremely integral to the world's energy supply and demand. It is not like hydrocarbons are being left behind like the dodo bird, for they cannot be, for even though analysts predict we will not witness the return of oil demand recovery until 2022, it does not mean countries do not "today until tomorrow" have a voracious appetite for energy. Look no further than the Dragon in the East - China. What in truth will have to be understood is the global economic recovery as the world becomes healthier in both the developed world as well as emerging markets as our energy transition unfolds. But yes, it will be good to leave 2020 behind.
*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.

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