Bullish Wall Streets banks see supply deficits in 2022, while OPEC, the IEA and the DoE are forecasting surpluses. Standard Chartered says a surge in U.S. oil output in Q4-2021 has gone largely unnoticed. The U.S. added over 900kb/d to supply in H2-2021, with only Saudi Arabia adding more. The energy sector’s bull run shows no signs of slowing down, with the sector closing comfortably at the top of Tuesday’s S&P sector standings, even as crude oil prices barely budged . The energy sector’s favorite benchmark, Energy Select Sector SPDR ETF (NYSEARCA:XLE), is now up 23.0% year-to-date vs. -4.6% return by the S&P 500 . Oil prices have continued their early-year strength, with front-month Brent recording five days of higher intra-day lows and three days of higher intra-day highs over the past week. Brent blend for April delivery, the current front-month contract, settled at USD 89.26 per barrel (bbl) […]