Episode 135 - OPEC moves to monthly meetings | Exxon Under Pressure From New Activist Fund | U.S. gasoline demand during Thanksgiving

Opec+ ministers to next meet on 4 Januaryhttps://www.argusmedia.com/en/news/2166600-opec-ministers-to-next-meet-on-4-january- OPEC+ deal to increase production by 500,000 bpdCould there have been some pressure from China on UAE and Russia to increase production because China wants to buy more?- Will meeting more regularly have more or less impact on the market?- Should OPEC set production policy for 6-12 months or should it become a rapid-response reactive group, adjusting production policy every month?- Does it deter U.S. producers from increasing production too much? Would it influence the shale oil industry?Energy Pipelines’ Bad Year Has a Silver Lininghttps://www.wsj.com/articles/energy-pipelines-bad-year-has-a-silver-lining-11607342400- Will all of the companies have product flowing through their infrastructure? For those that do, the value of their infrastructure will be increased.- Value could come years later if pipeline permitted becomes so difficult its nearly impossible to get pipelines permitted.- But would drillers put out capital to drill if there’s no possibility of getting pipeline space.- Got to get through 2021 to see where demand is and see how many producers actually make it to 2022.- Would they be absorbed by a super-major?Exxon Under Pressure From New Activist Fundhttps://www.wsj.com/articles/exxon-under-pressure-from-new-activist-fund-11607310000- Engine No. 1 investment fund is pushing for Exxon to invest more in clean energy technology, etc. - Why not just buy shares in BP and Shell?U.S. gasoline demand during Thanksgiving week lowest since 1997: OPIShttps://www.reuters.com/article/usa-products-gasoline/u-s-gasoline-demand-during-thanksgiving-week-lowest-since-1997-opis-idUSKBN28H1UQ?il=0- people are NOT driving- WHY then, are oil prices up?- What will happen for Christmas travel? But with new lockdowns, curfews, etc. can we really expect people to travel for Christmas?- How much will the lack of demand for Black Friday show up in diesel for package delivery? Not enough to offsetExxon Holds Back on Technology That Could Slow Climate Changehttps://www.bloomberg.com/news/features/2020-12-07/exxon-s-xom-carbon-capture-project-stalled-by-covid-19The COVID-19 Shock and the Curious Case of Missing Barrelshttps://www.oxfordenergy.org/wpcms/wp-content/uploads/2020/12/The-COVID19-Shock-and-the-Curious-Case-of-Missing-Barrels.pdf- China probably imported them! This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit energyweek.substack.com