US oil is keeping Opec on its toes
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 8 December 2023
⏱️ 11 minutes
🧾️ Download transcript
Summary
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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Transcript
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| 0:00.0 | The UK's energy partner. |
| 0:06.0 | Learn more at equinore. |
| 0:08.0 | Equinore. |
| 0:10.0 | Good morning from the Financial Times. Today is Friday, December 8th, and this is your |
| 0:16.0 | FT News briefing. The European Union is paving the way to ban Russian gas and US oil production is way way up. |
| 0:27.0 | Plus gold and Bitcoin are having a phenomenal week |
| 0:31.0 | will explain why this odd couple is doing so well. |
| 0:34.0 | Some investors are just going what the heck I might as well put a bit into |
| 0:38.4 | Bitcoin and a bit into gold because I don't have a strong conviction for next |
| 0:42.2 | year. I'm Mark Filipino and here's the news you need to start your day. The EU is the news you need to start your day. The E.T. has considering a law that would allow member states to basically ban |
| 0:57.6 | gas imports from Russia and Belarus. The F.T. has seen a draft of that legal text. |
| 1:04.0 | More specifically, that measure would let countries ban Russian and Belarusian companies |
| 1:08.5 | from buying capacity on EU gas pipelines. |
| 1:12.4 | The law would also allow EU energy companies |
| 1:15.2 | to end contracts with Russian energy providers |
| 1:17.8 | without having to pay hefty compensation, |
| 1:20.2 | that's according to a senior EU official. |
| 1:23.0 | Negotiators from Member States and the European Parliament |
| 1:26.0 | are expected to approve the proposal today. |
| 1:28.5 | The final version still has to be formally approved by the Parliament |
| 1:32.0 | and 27 member states. |
| 1:37.0 | Investors have been feeling, well, kind of frisky lately to be honest the price of gold |
... |
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