Russian Deputy PM Novak Says We Don't See Oil And Gas Demand Peaking In Next Decades; Hydrocarbons Will Dominate In Meeting Global Energy Demand
Portfolio Pulse from Benzinga Newsdesk
Russian Deputy PM Novak stated that oil and gas demand will not peak in the coming decades, with hydrocarbons continuing to dominate global energy demand.
September 26, 2024 | 12:42 pm
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POSITIVE IMPACT
The statement by Russian Deputy PM Novak suggests continued strong demand for oil, which could positively impact the United States Oil Fund (USO) as it tracks the price of oil.
USO is directly tied to oil prices. If oil demand remains strong as predicted, it could lead to higher oil prices, benefiting USO.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
VGK, which includes European energy companies, might see a positive impact from sustained demand for hydrocarbons, as these companies are significant players in the oil and gas sector.
VGK holds European energy companies that are involved in oil and gas. Sustained demand for hydrocarbons could support their revenues and stock prices.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 60