Energy Weekly Report: Motilal Oswal
According to Motilal Oswal, Oil price rally got a halt last week after prices fell by 7%, the worst single-day loss since April 2020 •
September 14, 2021 / 07:38 PM IST
Motilal Oswal's report on Energy Weekly
Crude oil markets breathed a sigh of relief and made a strong recovery the previous week amid slow return of the US oil production and refinery operations as more refineries have resumed operations nearly two weeks after Hurricane Ida tore through the region. More than 1Mbpd of U.S. offshore crude production remains shut in after Ida swept through the area nearly two weeks ago. More Louisiana refineries are resuming operations, raising demand for crude oil. The market is now laser focused on the supply situation in the U.S.
Investors seem concerned over the speed of the production recovery in the Gulf of Mexico.
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