IIR's January 16 Market Scorecard Brings You Breaking Geopolitical News

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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
Oil Prices Head Lower As Traders Take Profits		Crude oil began the week with a decline as traders took profits from last week's rally and settled down to wait for market forecasts due this week by OPEC and the International Energy Agency. Last week, crude oil booked its sharpest weekly price rise since last October, largely on expectations of a demand rebound in China after the country reversed its zero-COVID policy that had hobbled industrial activity and, consequently, oil demand for three years.	OilPrice	World Wonders About Crude Oil and Product Supply
China COVID Deaths Offsetting Last Week's Reopening Optimism		Fundamentally, prices are being pressured by a firm U.S. dollar and fears that the rising numbers of COVID-19 cases in China could cloud prospects for higher demand. Last week, the market strengthened as traders priced in the possibility of a jump in demand as the world's top crude importer prepares to reopen its economy after ending strict anti-virus curbs.	FXEmpire	IIR's January 9 Market Scorecard Brings You Breaking Geopolitical News
'Known, Unknown' Factors Roil Oil Prices, Frustrate Forecasters		Ongoing concerns about global economic conditions prompted the U.S. government to drastically cut its forecast for crude oil prices, something of an outlier against calls for $100 crude oil. The outlook from early 2022 onward was that the price of crude oil was entering a higher-for-longer scenario, given the war premium emanating from the conflict in Ukraine. Markets, however, are fluid. No longer, for example, do rig counts influence the price of oil like they did in the 2010s. Data supplied from London oil broker PVM show Europe has managed to diversify its supply away from Russia.	IIR News	'Known, Unknown' Factors Roil Oil Prices, Frustrate Forecasters
Russia's falling oil revenues could create vicious circle for budget, rouble		Russia's attempts to plug its budget deficit by selling foreign currency reserves could lead to a vicious circle that pushes the rouble higher and further reduces the Kremlin's crucial export revenues, analysts say... The Kremlin relies on export taxes from hydrocarbon sales to fund its domestic spending, which has increased sharply to cover accelerating costs for the Ukraine war, now in its 11th month.	Reuters	IIR's January 3 Market Scorecard Brings You Breaking Geopolitical News
Greener Gas Plants, Glass Onion's Hydrogen Goof And The High Cost Of Disasters		According to the National Oceanic and Atmospheric Administration, 2022 was the 6th-warmest year on record. Though not the highest, it's not a good sign: the ten warmest years on record have all occurred since 2010. That can make the idea of reversing or even reducing carbon emissions to stop rising global warming seem hopeless... ..but it's not hopeless - that's a point emphasized by a new research study, which estimates that it's possible to reduce the carbon emissions of natural gas-fired power by as much as 71% a year through a variety of mitigation efforts. This can be done through carbon capture and storage, as well as improving efficiency of the plants themselves (which has the side effect of making them cheaper to run.) "We were astonished by how large the potential reduction in greenhouse gases could be by 2050, and even by 2030," lead author Sarah Jordaan said in a press release.	NPR	California Floats More Aggressive Plan to Achieve Carbon Neutrality by 2045
Week 01/09/23 - 01/16/23		An Energy Dream - that of energy security obviously as the world continues to wrestle with regional & national Supply/Demand concerns; not to mention civil unrest and how this shaping up to be yet another tumultuous year, will shake itself out. A dream of lower volatility where more common sense prevails in the energy marketplace. A dream of an energy transition, transformation which involves an "..all of the above.." scenario from hydrocarbons to hydrogen & technologies which are still in "..the lab..". A dream where the world comes together - from established to emerging markets - to ensure reliable, cost effective energy is available to all and the nightmare of an energy crunch & crisis as well as the portent of recession is in the rearview mirror. A dream of energy abundance and opportunity to explore new worlds...
*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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