Equinor (EQNR NO) CEO says there is no spare gas or oil capacity, output cannot be materially lifted at this point.
Newsquawk Staff ·
Equinor (EQNR NO) CEO says there is no spare gas or oil capacity, output cannot be materially lifted at this point.
What it means
Equinor's CEO indicates that there is currently no available spare capacity to increase oil or gas output, which could tighten supply further amid ongoing demand pressures. This comment is particularly significant given the recent volatility in energy prices and may support higher valuations for oil and gas as markets factor in constrained supply dynamics.
- US Weekly Private Energy Inventory Data (bbls): Crude -2.0mln (exp. +0.5mln), Gasoline +2.4mln (exp. -1.3mln), Distillate +0.4mln (exp. -0.9mln), Cushing -0.5mln
- CRUDE WRAP: WTI (Z6) SETTLES USD 1.86 LOWER AT 99.90/BBL; BRENT (F7) SETTLES USD 1.33 LOWER AT 109.41/BBL
- Russian refineries’ crude processing up 25% since drone attacks stopped in mid-October, according to reports, citing sources
- US President Trump says believes I will visit tanker in Texas with Venezuela oil; thinks Secretary of State Rubio will be with him; we are going to accept 1mln bbls of Venezuelan oil
- Russian Deputy PM Novak says domestic refineries are bringing units back online very quickly following maintenance. Russia and the US could begin cooperating on Arctic LNG projects
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