Here’s what we have for you today:
• Oil consumption
• Capacity level
• Crime rate
Oil market competition of the year
Greasy situation: Saudi Arabia will most likely challenge the US in 2024 to regain market share control over oil prices.
Not enough: Oil demand is expected to grow in China as new refineries ramps up production.
The pace: In the first half of 2024 US crude oil production is expected to slow down.
Oil price dropping back down in the US
Pricing it down: US Energy Information Administration is estimating a 17 cent drop in 2024’s average pump price.
More for less: According to the EIA, “U.S. gasoline inventories are now higher than this time last year, which we expect to be true in January 2024 as well.”
Set for more: 1,000,000 plus oil barrel per day of new refining capacity is set to come online in 2024 in countries such as China, India, Mexico, Middle East and Nigeria.
Festive crime prevention on alert
On watch: With concerns related to the Israel-Hamas war, US law enforcement agencies are intensifying security measures for New Year celebrations.
French brigade: In France, 90,000 police officers have been mobilized for 2024’s New Year festivities.
Stand by: While Germany deployed around 4,000 police in Berlin and further support from other regions to prevent potential threats.