The Impact of US Oil Production on the Global Market

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The chapter explores the unexpected surge in oil production in the United States and its implications on the global market, including the decrease in oil prices and its impact on conflicts in the Middle East.

The EU is set to pave the way for completely ending gas imports from Russia and Belarus, and a record supply of oil from the US is complicating Opec+ maths. Plus, the FT’s Jennifer Hughes explains why the price of gold and bitcoin are both booming in the same week.

Mentioned in this podcast:

EU paves way for total ban on Russian gas imports

Oil market caught by surprise as US output surges

Gold price hits all-time high as traders bet on interest rate cuts

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Michela Tindera, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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