OPEC, Oh Sh*t! Crude Oil Tanks as OPEC+ Floods the Market.
Crude Oil tanks as OPEC+ floods the market with product. Russia and Saudi Arabia just did the unthinkable by announcing that they’re increasing output by 411,000 barrels per day starting in June. With demand forecasts going down every day as the world braces for a Trump induced global recession, it’s the exact opposite move from what everyone expected. This episode tackles what this means for the economy, the future of energy, Trump’s tariff gambit, inflation and unemployment.
Resources
U.S. EIA: Advances in technology led to record new well productivity in the Permian Basin in 2021
EnergyNews: OPEC maintains its forecast for oil demand growth in 2025 and 2026
Reuters: US agrees to sell Saudi Arabia $142 billion arms package
Responsible Statecraft: Lobby Horse: Trump’s ‘trillion dollar' visit to Saudi Arabia
Deloitte: 2025 Renewable Energy Industry Outlook
World Economic Forum: 5 trends shaping the energy world in 2025
AInvest: JPMorgan Cuts 2025 Oil Price Forecasts 12% on Weak Demand, OPEC+ Output
ExxonMobil: ExxonMobil Announces First-Quarter 2025 Results
Reuters: OPEC output hikes, trade wars have US oil producers wary of 'drill baby drill'
Trading Economics: United States Exports By Category
St. Louis Fed: Breakeven Fiscal Oil Price for Saudi Arabia (SAUPZPIOILBEGUSD)
UNFTR Episode Resources
Peak Oil: It's a Crude, Crude World.
Video: Oil Prices TANK as OPEC Floods the Market
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