Economists are lowering their estimates for second-quarter growth in the U.S. as the coronavirus crimps demand and spending, in some cases penciling in what would be the first contraction since Continue Reading
The America First presidency collided with a global pandemic Wednesday night. The result failed to reassure skittish markets or a nervous nation. President Donald Trump relied on a familiar playbook as Continue Reading
Travelers scrambled to rebook flights and global markets reeled on Thursday after U.S. President Donald Trump imposed sweeping restrictions on travel from Europe, hitting battered airlines and further straining ties Continue Reading
The world’s biggest oil producer will see a drop in output next year as a result of the dramatic collapse in prices that’s already forcing drillers to cut back on Continue Reading
Shale billionaire Harold Hamm wants to file a complaint with the US Department of Commerce against Saudi Arabia for “illegal” dumping of crude. (Bloomberg) — Shale billionaire Harold Hamm intends Continue Reading
This is my latest update on the recent changes in the number of registered vehicles in the United States. In the previous analysis , I examined the data from 1984 Continue Reading
US oil output to average 12.99 mil b/d in 2020, 12.66 mil b/d in 2021 WTI forecast cut to $38.19/b in 2020, $50.36/b in 2021 Brent forecast cut to $43.30/b Continue Reading
The US Energy Information Administration on Wednesday lowered its forecasts for Henry Hub spot natural gas prices forecasts for the first two quarters of 2020, but predicted prices will rise Continue Reading
US coal carloads were at a near four-year low 58,659 in the week ended March 7, the lowest total since 58,166 in the week ended April 9, 2016, the Association Continue Reading
The recent oil-price collapse led the US Energy Information Administration Wednesday to cut its forecast for global oil demand 50% from earlier this year, drop some oil price projections by Continue Reading
Jet fuel differentials on the Gulf and Atlantic coasts plunged to fresh lows Wednesday following news that the US Federal Aviation Administration will suspend minimum slot-use requirements at three major Continue Reading
US crude exports and Permian Basin production may soon see notable declines as the plunge in oil prices triggers a painful but possibly short-lived downturn, said Port of Corpus Christi Continue Reading
On the 8 th of August 2019 a major oil company completed an acquisition that could well be looked back on as the worst oil deal of the decade. Since Continue Reading
U.S. crude oil refinery inputs averaged 15.7 million barrels per day during the week ending March 6, 2020 which was 5,000 barrels per day more than the previous week’s average. Continue Reading
Forecast Highlights Global liquid fuels EIA delayed the release of the March STEO update by one day to incorporate recent significant global oil market developments. On March 9, Brent crude Continue Reading
The federal government is giving local officials nationwide a painful choice: Agree to use eminent domain to force people out of flood-prone homes, or forfeit a shot at federal money Continue Reading
It was supposed to be a bipartisan moment for the Senate. But now a sweeping energy package promoted as a “down payment” on fighting climate change is falling apart amid Continue Reading
A court-ordered sale of one-time shale high-flyer Alta Mesa Resources Inc fell through due to a lack of financing on Monday, according to court filings, a day when oil prices Continue Reading
U.S. oil production is expected to grow more slowly in 2020 and drop outright in 2021, forecasters said this week after U.S. shale producers cut investment plans further when OPEC Continue Reading
Alberta’s government could mandate further cuts to oil production if rising crude supplies and falling prices threaten the survival of drillers in the province. Crude-by-rail shipments are poised to collapse to Continue Reading
Duke Energy, Dominion Energy and Southern Company are not making investments consistent with their clean energy goals, according to a report released Monday from Synapse Energy Economics. The three utilities Continue Reading
Los Angeles is aiming to become the first city in the nation to use renewable hydrogen to produce electricity, with the goal of ending the use of carbon-based natural gas entirely. Continue Reading
The White House is strongly considering pushing federal assistance for oil and natural gas producers hit by plummeting oil prices amid the coronavirus outbreak, as industry officials close to the administration Continue Reading
The federal government is giving local officials nationwide a painful choice: Agree to use eminent domain to force people out of flood-prone homes, or forfeit a shot at federal money Continue Reading
A majority of European citizens would support a ban on short-distance flights to fight climate change, according to a survey the European Investment Bank (EIB) said on Tuesday. Of 28,088 Continue Reading
This week’s oil price rout had become inevitable and cutting output has ceased to make sense because it is unclear how deep the impact of the coronavirus on demand will Continue Reading
Suddenly staring recession in the face, European leaders are lining up an array of tax breaks, financial support for companies and likely central bank measures in the hope of preventing Continue Reading
Russia’s parliament gave its final seal of approval to constitutional changes potentially allowing President Vladimir Putin to stay in power for years to come, removing a key source of uncertainty about Continue Reading
The European Commission (EC) presented a broad new European Industrial Strategy to help Europe’s industry lead the transition towards climate neutrality and digital leadership. The Strategy sets out the key Continue Reading
Saudi Arabia is unleashing a wave of crude toward Europe, traditionally the backyard for Russian oil sales, pledging to supply regional refineries with as much as triple their usual intake Continue Reading
A popular post on Russian social media this week depicts Karl Bryullov’s apocalyptic painting “The Last Day of Pompeii”, with Igor Sechin, head of Russia’s biggest oil company, added to Continue Reading
Crude oil futures continued to retrace early-week losses in mid-morning trade in Asia Wednesday amid a slowdown in the number of new coronavirus or COVID-19 cases reported in Asia. At Continue Reading
A mild winter in the northern hemisphere, the COVID-19 outbreak, and now the price war that Saudi Arabia declared last weekend have combined to produce an all-new oil price crisis Continue Reading
Oil’s rebound from its biggest crash in a generation halted after Saudi Arabia said it would boost its production capacity, and the United Arab Emirates joined them in raising supplies. Brent Continue Reading
Oil prices jumped over 8% on Tuesday, bouncing from the biggest rout in nearly 30 years a day earlier, as the possibility of economic stimulus encouraged buying and U.S. producers Continue Reading
The American Petroleum Institute (API) estimated on Tuesday a large crude oil inventory build of 6.407 million barrels for the week ending March 6, compared to analyst expectations of a Continue Reading
Barclays has become the latest bank to revise its oil price outlook for this year. The UK bank cut its forecast for Brent crude to $43 a barrel from $59, Continue Reading
Oil is climbing back up after falling over 25% on Sunday, but will the rally last? – U.S. natural gas production grew by 9.8 billion cubic feet per day (Bcf/d) Continue Reading
Excess production, depressed demand, and weak prices: this sums up the natural gas market right now even better than it sums up the oil market. Unfortunately, with the China coronavirus Continue Reading
A feud between Saudi Arabia and Russia that sent oil prices plunging on March 9 has rewritten economic forecasts across Eurasia. Azerbaijan, Kazakhstan and Russia – the former Soviet Union’s Continue Reading
When Rystad Energy analysts last November told Bloomberg that Big Oil investors were in for a windfall of dividends and share buybacks as the companies shifted into renewables, they couldn’t Continue Reading
Ratings Agency Fitch warned on Tuesday that a new wave of sovereign rating downgrades could be in the works if the oil slump continues, according to Reuters . In additional, Continue Reading
For those awaiting more aggressive action on climate change, it may look like a breaking point has finally arrived. A sudden collapse in fossil-fuel markets akin to the 2008 financial crisis has Continue Reading
You’ve likely heard about broad trends that scientists are certain will occur as a result of climate change: Plants and animals will be pushed out of their native habitats. Ice Continue Reading
Saudi Arabia’s state-run shipping company has hired multiple very large crude carriers to carry all the extra oil it plans on exporting next month—a rare move indeed for the shipping Continue Reading
DUBAI, United Arab Emirates (AP) — Saudi Arabia’s oil company Aramco said Wednesday it will increase production capacity to 13 million barrels per day, up from 12 million per day, Continue Reading
Saudi Arabia fired another salvo in its oil-market war with Russia on Wednesday, unveiling plans to boost its oil-production capacity to a record 13 million barrels a day. The capacity Continue Reading
It was always a marriage of convenience, whatever the pledges of devotion, but when Russia and Saudi Arabia parted ways late last week after a dispute over oil production, it Continue Reading
The U.S. sanctions on Iran’s oil sector are impacting the Islamic Republic’s ability to potentially increase production in the long term if the U.S.-Iran tensions subside and sanctions ease. Iran Continue Reading
At least a quarter of Iran’s oil rigs are out of action as U.S. sanctions strangle the Islamic Republic’s vital oil industry, according to a Reuters review of financial documents Continue Reading
