US job market’s modest improvement may be stalling
The number of laid-off workers seeking U.S. unemployment aid barely fell last week, and the reopening of small businesses has leveled off — evidence that the job market’s gains may Continue Reading
US GDP fell at 5.0% rate in Q1; worse is likely on the way
The U.S. economy shrank at a 5.0% rate in the first quarter and a vastly worse performance is expected in the current three-month period, when the coronavirus pandemic began to Continue Reading
Texas Oil Companies Are Already Preparing To Restart Production
Production restarts in Texas might happen faster than originally thought by the market. The majority of respondents in the Dallas Fed survey replied that oil prices above $35 are sufficient Continue Reading
U.S. Trade Deficit Grows As Oil Exports Drop In May
U.S. trade deficit in goods unexpectedly widened in May versus forecasts for a narrower deficit, due to what analysts saw as a slide in exports mostly driven by oil. The Continue Reading
Minnesota Sues Exxon, API For Climate Change
The Attorney General of Minnesota filed a lawsuit against Exxon, the American Petroleum Institute, and Koch Industries, alleging they spent decades deceiving the public about climate change. The charges, brought Continue Reading
Oil And Gas Activity Collapses In Q2: Dallas Fed Survey
The Dallas Fed Energy Survey’s Q2 assessment of oil and gas firms in the Eleventh District showed that oil and gas activity deteriorated in Q2, according to oil and gas Continue Reading
Texan Oil Companies Forced To Keep Staff Home As Second Wave Hits
Amid record-breaking additions to the new Covid-19 case count in Texas, oil companies in the state have suspended plans to return staff to offices, Reuters reports . Health officials in Continue Reading
US refinery capacity tops 20 million b/d in 2020 as refiners slow, defer further expansion plans
The US Energy Information Administration’s annual report on American refineries showed capacity topped 20 million b/d in 2020, as refiners increased their ability to run more price-advantaged domestic crude to Continue Reading
US oil midstream sector enters hibernation as pandemic wreaks industry toll
The US midstream oil sector is headed deep into a period of hibernation, with pipeline projects delayed or put on hold indefinitely as the coronavirus pandemic continues to dampen global Continue Reading
US working natural gas volumes in underground storage rise by 120 Bcf: EIA
Last week’s addition to natural gas in storage proved much larger than the market expected, prompting the remaining Henry Hub summer strip to fall more than 10 cents. Receive daily Continue Reading