Gas Traders Hope La Nina Will Bring Harsh Winter
The world’s natural gas traders are hoping for a brutal winter to help sustain a price rally back from a record-setting slump. Fresh in their minds are memories of the Continue Reading
Frac Sand Metric Declines
Shale firms are pumping an average of roughly 2.9 million pounds a day of frac sand this quarter, according to Coras Research LLC. (Bloomberg) — Frackers are blasting less sand Continue Reading
Spiking coronavirus cases and falling oil prices deliver dual blow to North Dakota
A recent surge in coronavirus cases is rekindling economic anxieties in North Dakota, where wildly fluctuating oil prices and recent drops in production threaten to leave the state’s finances in fresh Continue Reading
FEATURE: Russian oil companies clash with finance ministry over tax changes
Russia’s finance ministry is hoping to pass a law amending the excess profit tax for oil fields as early as this fall, despite open opposition from oil companies warning of Continue Reading
Crude futures rangebound in Asia trade as US inventories snap 6-week fall
Crude oil futures were rangebound in mid-morning trade in Asia Sept. 11 after the US Energy Information Administration reported an unexpected build in US commercial crude inventories after six weeks Continue Reading
Retreating Oil Prices Force OPEC+ To Reconsider Easing Cuts
The record oil production cuts that OPEC+ initiated in response to the demand and oil price collapse have helped the oil market to stabilize in recent months. Yet, oil prices Continue Reading
Oil Prices Decline Again
Oil resumed its trek downward after U.S. government data showed growing domestic crude supplies and wavering gasoline demand. Futures in New York fell toward $37 a barrel after an Energy Continue Reading
OIL FUTURES: Product prices slip as US gasoline demand plumbs 2-month lows
Weakened US product demand weighed on NYMEX product futures Sept. 10 even as gasoline inventories showed signs of normalizing after a sizable draw during the week ended Sept. 4. NYMEX Continue Reading
Surprise Crude Build Forces Oil Prices Lower
The slide in crude oil prices accelerated after the Energy Information Administration reported a crude oil inventory build of 2 million barrels for the week to September 4. A day Continue Reading
Floating Storage Begins To Fill Up As Oil Demand Wavers
Huge floating oil storage builds earlier this year became a major cause for oil price falls as the pandemic wiped out demand. Then, as OPEC+ started cutting production and countries Continue Reading
U.S. Oil Company Hess Attempts To Load Crude From Libya Port
Hess may attempt to load a cargo of crude oil from Libya’s Es Sider port this week. If successful, the loading represents a glimmer of hope for oil-rich Libya who Continue Reading
Baghdad Asks Kurdistan To Cut Oil Production
The federal Iraqi government has asked the Kurdistan Regional Government to reduce oil production by 120,000 bpd, Reuters reported , citing the Iraqi News Agency. The federal government is negotiating Continue Reading
Trump Hints At Saudi Participation In UAE,-Israel Peace Deal
The historic diplomatic deal between Israel and the United Arab Emirates that was announced on August 13 added yet another layer of difficulty to the geopolitical relations in the Middle Continue Reading
IRAQ DATA: Aug crude output falls, but SOMO says KRG caused OPEC+ non-compliance
Highlights Iraqi production, including KRG, averaged 3.578 mil b/d Quota, including compensation cut, was 3.404 mil b/d SOMO says KRG only 79% compliant with agreed cut London — Iraq lowered Continue Reading
Saudi Aramco Is Now Suffering The Consequences Of A Failed Oil Price War
It was evident to anyone with even half a brain that the last Saudi-instigated oil price war would end in abject failure for the Saudis , just as the previous Continue Reading
Turkey Eyes Libya Upstream
Turkey is in talks over oil and gas exploration in Libya. (Bloomberg) — Turkey is in talks over oil and gas exploration in Libya, as President Recep Tayyip Erdogan’s administration Continue Reading
Summary of Weekly Petroleum Data for the week ending September 4, 2020
Summary of Weekly Petroleum Data for the week ending September 4, 2020 U.S. crude oil refinery inputs averaged 12.8 million barrels per day during the week ending September 4, 2020 Continue Reading
The Nine Key Points In Biden’s Energy Strategy
Democratic presidential candidate Joe Biden has laid out an ambitious energy plan. His campaign has released nine key elements of Biden’s plan for a Clean Energy Revolution and Environmental Justice Continue Reading
What Possible Disruption Is Coming That Requires China To Start Massive Stockpiling Of All Possible Commodities
Today is like one of those rare occasions when the Broadway understudy for a leading role finds out that the star has the ‘flu (not Covid-19) and so they get Continue Reading
US Unemployment Benefits Filings Failed to Decline as Expected Last Week
Applications for U.S. state unemployment benefits held steady last week, a sign extensive job losses are persisting as the nation struggles to control the coronavirus. Initial jobless claims in regular state Continue Reading
La Nina Is Here, Threatening Even Bigger Blazes and Storms
The extreme weather that’s hammered California with runaway wildfires and hit Louisiana with its most powerful hurricane in 160 years may be about to get even worse. La Nina — a Continue Reading
Money for $300 unemployment boost to run out after 6 weeks
The temporary $300-a-week unemployment insurance boost implemented by President Donald Trump is about to end, with no extension in sight. The Federal Emergency Management Agency said Thursday in an email Continue Reading
What’s Biden’s New China Policy? It Looks a Lot Like Trump’s
Whoever wins the presidential election, one thing is clear: The U.S. has turned a corner in its relations with China and is likely to maintain a harder line. In the Continue Reading
US crude inventories unexpectedly grow in sign of weaker fuel demand
American commercial crude inventories grew by 2m barrels – or 0-4 percent – in the week to September 4, according to figures from the Energy Information Administration, breaking a six-week run Continue Reading
Colorado Regulators Want Oil Wells Much Further Away From Homes, Schools
The members of the Colorado Oil and Gas Conservation Commission (COGCC) supported four-to-one a proposal to extend the setback for oil wells from homes and schools to 2,000 feet—four times Continue Reading
Weekly US coal production totals 10.7 million st, down 20.5% on year: EIA
Houston — Weekly US coal production was estimated at 10.7 million st in the week ended Sept. 5, down 3.4% from the previous week, Energy Information Administration data showed Sept. Continue Reading
Magellan to accept crude from more Permian pipelines at benchmark MEH terminal
Magellan Midstream Partners said Sept. 10 it will start accepting crude from certain third-party Permian Basin pipelines at its Magellan East Houston terminal that also serves as a US Gulf Continue Reading
Democrats block GOP-backed coronavirus relief bill, dashing hopes for a new stimulus before November
Hopes for a new stimulus package to help ease the economic stress of the pandemic before the November elections waned Thursday after Democrats blocked a slimmed-down coronavirus relief bill put forward by Continue Reading
OPIS: Recovery of US gasoline demand stalls as summer driving season ends
The recovery in US gasoline consumption has plateaued as the summer driving season comes to an end and the school year begins for wide swaths of the country. Latest data Continue Reading
How apocalyptic this fire season is — in 1 flaming chart
It’s still 2020 and the pandemic-slash-climate change apocalypse just got even worse. The West Coast is burning. As of Wednesday, 24 active fires were reported in California, 12 in Washington, and Continue Reading
Electric Vehicle Sales in Europe Outperform U.S., China and Combustion Engines
Global automobile sales plunged dramatically in the first two quarters of this year as the coronavirus pandemic kept buyers out of showrooms. The market, which peaked several years ago, dropped Continue Reading
Brits Ready to Hand Government More Power on Climate Change
View full article at www.bloomberg.com
Russia’s Central Bank Warns That Oil Could Slide To $25
Russia’s central bank has warned that crude oil prices could slump to $25 in its risk scenario for monetary policy over the next three years, TASS reports . That scenario, Continue Reading
EC set to propose stricter 2030 CO2 cut target for EU on Sept. 15
Highlights Sources expect 55% cut, up from current 40% target Key EU parliament panel to adopt its view on Friday Stricter target to boost renewables, cut fossil use Brussels — Continue Reading
U.K. Government Eyes ‘World Leading’ Hydrogen Market
The U.K. government is starting to draw up a plan to create a “world-leading” hydrogen market that can help meet its goal to zero out greenhouse gas emissions by 2050. Continue Reading
Oil Major BP Makes First Ever Move In Offshore Wind Energy
BP is making its first move into the offshore wind market with a strategic partnership in U.S. offshore wind assets with Equinor in a deal worth US$1.1 billion. Under the Continue Reading
Crude oil futures lower in Asia trade after surprise build in US inventories
Crude oil futures were lower in mid-morning trade in Asia Sept. 10 after American Petroleum Institute data released late Sept. 9 pointed to an unexpected rise in US commercial crude Continue Reading
Surprise Crude Oil Build Thwarts Price Rally
The American Petroleum Institute (API) reported on Tuesday a build in crude oil inventories of 2.970 million barrels for the week ending September 4. Analysts had predicted an inventory draw Continue Reading
Oil Prices Post Strong Rebound
Oil jumped the most since June alongside a rally in broader equities markets, boosted by expectations of US crude stockpiles extending their streak of declines. (Bloomberg) — Oil jumped the Continue Reading
Oil Traders Gird for More Price Swings
Traders are betting on fresh upheaval in the oil market, in an abrupt turnaround from the calm of recent months. U.S. oil prices have slid 12% since the end of Continue Reading
The Start Of A New Oil Market Supercycle
It is over-simplification to say the world has been overwhelmed with too much oil and gas and inadequate drivers of demand for them over the last few years. Price movements Continue Reading
In the Battle Over the Senate, Both Parties’ Candidates Are Playing to the Middle on Climate Change
People march from the U.S. Capitol to the White House for the People’s Climate Movement on April 29, 2017 in Washington, D.C. Credit: Astrid Riecken/Getty Images This piece introduces a Continue Reading
Climate Change Report: Coronavirus Will Not Slow Global Warming
Carbon emissions are on the rise again after a short blip when the pandemic brought entire industries and international travel to a halt. Emissions from burning fossil fuel dropped by Continue Reading
OPEC+ Output Cuts Increasingly Important For Oil Market Recovery
Despite a moderate price rebound on Wednesday, oil markets have been under significant pressure since last week. Brent prices closed the week at $42.66, down by 6.88% w/w , while Continue Reading
ICCT analysis finds UN’s aircraft CO2 standard lags current technology by more than a decade
A new analysis of commercial aircraft fuel efficiency from the International Council on Clean Transportation (ICCT) finds that the UN’s aircraft CO 2 standard lags current technology by more than Continue Reading
Wild weather this year shows growing impact of climate change, scientists say
The planet is showing signs it’s in peril. In recent weeks, the world has seen ferocious wildfires in the U.S. West, torrential rains in Africa, weirdly warm temperatures on the Continue Reading
OPEC+ crude oil output rises in August as record cuts ease: Platts survey
Highlights OPEC pumps 24.37 mil b/d, non-OPEC adds 12.67 mil b/d Saudi Arabia slightly below quota, while Russia just over UAE crude production surges to 2.74 mil b/d Iraq under Continue Reading
U.S. to Cut Its Force in Iraq to About 3,000 Troops, Commander Says
The Trump administration will cut the number of U.S. troops in Iraq to about 3,000 this month, a top military commander said in the country on Wednesday, a reduction from Continue Reading
Saudi Arabia to keep pumping despite fall in crude prices
Saudi Arabia plans to keep oil production steady despite a recent slump in prices, fearing any bigger output cuts would lead rivals in Opec to increase supply. Five people briefed on Continue Reading
UAE’s Nuclear Power Pivot Comes At A High Cost
The United Arab Emirates have just become the first Arab nation to operate a nuclear plant as its 5.6GW Barakah nuclear plant achieved criticality on its Unit 1 in the Continue Reading