Oil rallies towards $73 on tight U.S. supplies, Biden-Xi call
Oil rose towards $73 a barrel on Friday, supported by growing signs of supply tightness in the United States as a result of Hurricane Ida and as U.S.-China trade hopes Continue Reading
What Smart People Get Wrong About Climate Change Extremes
Offshore oil supply containers are strewn about after Hurricane Ida’s storm surge swept through Port Fourchon, Louisiana. Photographer: Luke Sharrett/Bloomberg If anyone should be attuned to the real-world impacts of Continue Reading
OPEC May Cut 2022 Oil Demand Forecast
OPEC could revise down its forecasts for global oil demand in 2022, in view of the increased uncertainty with the Delta variant, two OPEC+ sources told Reuters on Friday. OPEC Continue Reading
Two Libyan Ports Resume Operations After Protests Stopped Oil Loading
Two of Libya’s key oil export terminals have resumed loading crude on tankers, after protests had stopped operations earlier this week. The Es Sider and Ras Lanuf oil terminals resumed Continue Reading
Kerry Will Visit India to Press for Stronger Efforts on Climate
U.S. climate envoy John Kerry will visit India next week to press the world’s third-biggest source of carbon emissions to step up its efforts to fight climate change, according to Continue Reading
Over two-thirds of offshore oil output remains shut in U.S. Gulf -regulator
U.S. offshore oil companies restored almost 200,000 barrels of production on Friday, while most of the Gulf Coast crude output remained offline following Hurricane Ida, government data showed. The storm Continue Reading
U.S. Oil Rig Count Recovers After Major Plunge Last Week
The number of oil and gas rigs in the United States rose by 6 this week, according to Baker Hughes —after falling by 11 last week. The total rig count Continue Reading
California Looks To Burn More Fossil Fuels To Avert Blackouts
California’s power grid transition to renewable energy sources appears to be backfiring. The push into clean energy is not producing enough power to meet demand during hot summer days, and Continue Reading
Nearly 185,000 b/d of US Gulf oil production returns as Ida recovery continues
About 185,000 b/d of US Gulf oil production returned Sept. 10 from a day prior as the recovery from Hurricane Ida began to pick up some momentum, even though nearly Continue Reading
Ida-Damaged Oil Rig May Take Rest of 2021 to Repair
Noble Corp. said repairing a deepwater oil rig damaged by Hurricane Ida may take the rest of this year and wipe out 16% of expected profit. Noble’s Globetrotter II rig Continue Reading