Oil Prices Retreat As U.S. Abandons Paris Climate Agreement

As oil ventures into forty dollardom once more, today’s blog takes a peek at a number of supply side influences, from Basrah buoyed to Brazil nuttiness, all via a ‘call on shale’. Hark, here are a number of things to consider in oil markets today: According to reports, Brazilian exports are set to ramp up super-strongly to 2.6 million barrels per day by 2026, up from just under 800,000 bpd last year. This is because domestic production is expected to double over the next decade, as offshore production ramps up amid improving logistics (i.e., higher…