OPEC Invites U.S. Oil Official To Production Cut Meeting
OPEC will invite the U.S. oil regulator to take part in the emergency OPEC+ video meeting on Monday, a source involved in the preparation of the meeting told Russian news Continue Reading
Billions in Oil Royalties at Stake in Talks After Trump Meeting
Oil industry representatives will meet with Interior Secretary David Bernhardt, Energy Secretary Dan Brouillette and White House economic adviser Larry Kudlow Friday to discuss ways the Trump administration can help Continue Reading
Above-average Atlantic hurricane season predicted, including a possible major hurricane strike
After four active hurricane seasons — each of which featured at least one violent Category 5 storm in the Atlantic — experts at Colorado State University are predicting another active Continue Reading
Canada Looks To U.S. As Oil Crisis Escalates
Canada is in close contact with the United States about the oil price crash and its effect on the industry, Canada’s Deputy Prime Minister and Minister of Intergovernmental Affairs Chrystia Continue Reading
US refiners shift into maximum diesel mode as gasoline prices dip below $1/gal
US refiners are getting slammed by falling demand for petroleum, but some are faring worse than others depending on location and ability to increase distillate output as the diesel-to gasoline Continue Reading
US January Production Drops Again
A post by Ovi at peakoilbarrel Preparing this March post has been a surrealistic exercise. Here I am providing a January US production update when at a time, January, the Continue Reading
Recent trends in gasoline prices
This brief note analyzes the changes in the price of gasoline during the first 13 weeks of 2020 and compares them with the changes during the first 13 weeks of Continue Reading
Trump aims to ease U.S. oil industry’s cash crunch, no plan to trim output: sources
U.S. President Donald Trump has directed his cabinet to find ways to ease a cash crunch in the drilling industry after oil company executives told him in a Friday meeting Continue Reading
U.S. Energy Chief Tells Industry He Sees Oil Deal Within Days
Energy Secretary Dan Brouillette told oil industry representatives Friday that he expected a Saudi-Russia deal on crude production cuts within days. Brouillette’s comments came during a conference call with a broad Continue Reading
A bleak US jobs report likely portends even deeper losses
A grim snapshot of the U.S. job market’s sudden collapse emerged Friday with a report that employers shed hundreds of thousands of jobs last month because of the viral outbreak Continue Reading
Trump meeting with US oil executives ends without public commitment to cuts
A highly-anticipated meeting between US President Donald Trump and the country’s oil executives Friday ended without a new policy announcement or commitment toward domestic output cuts. Receive daily email alerts, Continue Reading
US Jobs Report Mar. 2020: Payrolls Fall 701,000 on Coronavirus
U.S. employment plummeted last month by a degree not seen since the last recession, in just an early glimpse of the devastation from the coronavirus pandemic. Payrolls fell 701,000 from the Continue Reading
OPEC, Trump, Saudi, Russia News: President to Meet Oil CEOs – Bloomberg
President Donald Trump will meet with titans of the oil industry Friday who are battling among themselves over whether he should slap tariffs on Saudi crude to get the kingdom to Continue Reading
EPA loses case seeking modeling behind Obama mileage rollback
The Environmental Protection Agency (EPA) was wrong to withhold information about how it devised its new fuel efficiency standards, a panel of judges ruled just a day after the Trump Continue Reading
Democrats push for green infrastructure provisions in next coronavirus package
Democrats are pushing for the next coronavirus package to include a litany of green infrastructure provisions in defiance of past GOP rebukes of mixing such measures with efforts to combat Continue Reading
Exclusive: Trump does not plan to ask U.S. oil producers for coordinated cuts – official
The United States will not ask U.S. domestic oil companies for a coordinated cut in production to counter a historic meltdown in global prices and is still awaiting the details Continue Reading
US Energy Department offers 30 million barrels of SPR space to US producers
After Democrats in Congress blocked efforts to buy US crude for the Strategic Petroleum Reserve, the Department of Energy announced Thursday that it was making 30 million barrels of space Continue Reading
Traders Eyeing Rail Cars for Oil Storage
Oil companies are turning to rail cars to stash the crude they can’t sell, as the world runs out of places to store a growing glut of cheap barrels. North Continue Reading
As oil sinks, some companies float idea of ‘zero clause’ in trades
After the worst quarter for oil prices in history, some oil producers have begun to include protection in their contracts to avoid being forced to pay buyers for the oil Continue Reading
US shale producers launch anti-Saudi lobbying push
American shale producers have launched an aggressive lobbying campaign in support of new sanctions against Saudi Arabia and Russia, urging the White House to compel the oil producing nations to Continue Reading
Crude oil futures climb ahead of Trump’s meeting with US oil leaders
Crude oil futures were higher in mid-morning trade Asia Thursday, as more optimism emerged ahead of US President Donald Trump’s meeting with oil industry leaders later in the week. Receive Continue Reading
Trump warns Iran against possible ‘sneak attack’ on U.S. in Iraq
U.S. President Donald Trump said on Wednesday that Iran or its proxies planned a sneak attack on U.S. targets in Iraq, and warned they would pay a “very heavy price” Continue Reading
Iran Says U.S. Sanctions Are Taking Lives. U.S. Officials Disagree.
As Iran struggles with a devastating coronavirus outbreak, a broken economy and a severe shortage of medical equipment, it says that American trade sanctions are taking Iranian lives and has Continue Reading
Shipping U.S. Oil to China Costs Half as Much as the Cargo
The cost of hauling oil from the U.S. to China has skyrocketed to nearly $10 a barrel — almost half of what the American benchmark crude is currently valued at — Continue Reading
Supplies Are Starting To Get Really Tight Nationwide As Food Distribution Systems Break Down
All across America, store shelves are emptying and people are becoming increasingly frustrated because they can’t get their hands on needed supplies. Most Americans are blaming “hoarders” for the current Continue Reading
Wall Street’s major indexes slammed as virus anxiety grows
The key S&P 500 index was down more than 4% on Wednesday after a dire warning on the U.S. death toll from the coronavirus and heightened nerves over the upcoming Continue Reading
U.S. ISM Factory Orders, Labor Gauges Are Weakest Since 2009
The cost of hauling oil from the U.S. to China has skyrocketed to nearly $10 a barrel — almost half of what the American benchmark crude is currently valued at — Continue Reading
Disputed Canada-US oil pipeline work to start in April
A Canadian company said Tuesday it plans to start construction of the disputed Keystone XL oil sands pipeline through the U.S. Midwest in April, after lining up customers and money Continue Reading
Summary of Weekly Petroleum Data for the week ending March 27, 2020
U.S. crude oil refinery inputs averaged 14.9 million barrels per day during the week ending March 27, 2020 which was 0.9 million barrels per day less than the previous week’s Continue Reading
U.S. To Rent Out Federal Storage Space To Oil Industry
U.S. oil producers may soon have access to federal oil storage space to alleviate the glut that is threatening to overwhelm existing private storage capacity. Bloomberg reports , quoting three Continue Reading
Trump considers canceling domestic flights to coronavirus hot spots
President Donald Trump said on Wednesday he was considering a plan to halt domestic flights to coronavirus hot spots inside the United States as the country struggles to contain a Continue Reading
Trump Says World’s Biggest Oil Producers to Meet on Market Crash
President Donald Trump said the U.S. would meet with Saudi Arabia and Russia with the goal of stanching an historic plunge in oil prices. Trump, speaking at the White House Tuesday, Continue Reading
U.S. Extends Iran Sanctions Waiver
The U.S. government has extended for another 60 days sanction waivers that allow Russia, China, and European countries to continue nonproliferation work at Iranian nuclear sites. Secretary of State Mike Continue Reading
Key U.S. Crude Oil Grade Has Never Been Cheaper in Modern Era
The price of one key U.S. oil grade is already the lowest in the modern era of the market, when adjusted for inflation. Louisiana Light Sweet crude, a key crude stream Continue Reading
Fracking Once Lifted Pennsylvania. Now It Could Be a Drag.
The last time the global economy was in free fall, an economic savior showed up in southwestern Pennsylvania. Energy companies, which had discovered a way to get at the state’s Continue Reading
Why Civil Rights Activists Are Backing Natural Gas
The United States has a long-running love affair with natural gas, with fossil fuels acting as the lynchpin in the country’s power generation mix , while nearly half of American Continue Reading
The U.S. Is About To Lose Its Place As The World’s Largest Oil Producer
The United States may lose its top spot among oil producers globally this year, according to economists. With oil prices continuing their slide and Saudi Arabia reiterating its plans to Continue Reading
East Kentucky Power Co-op reduces contracts with four coal suppliers
EKPC reduces four barge contracts by 16,000 st/month CCU Coal supply deal cut by 6,000 st/month East Kentucky Power Cooperative reduced its monthly delivery amounts with four barge coal suppliers Continue Reading
US rolls back fuel economy standard to 1.5% annual target, from 5%
The Trump administration Tuesday issued final fuel economy targets for 2021-26 model-year light-duty vehicles, rolling back the existing targets to an annual efficiency increase of 1.5% from 5%. Receive daily Continue Reading
Trump Chides ‘Foolish’ Car Executives After Easing Mileage Rules
President Donald Trump attacked automakers for the second time in a matter of days, chiding their “foolish executives” as his administration completed the final step of a three-year quest to Continue Reading
Abnormally warm Gulf of Mexico could intensify thunderstorm and hurricane seasons
Water temperatures in the Gulf of Mexico are running more than three degrees above average, increasing the prospects for severe thunderstorms and tornadoes this spring and potentially stronger hurricane activity Continue Reading
How Low Could U.S. Oil Production Actually Go?
The oil-bears continue their romp across the energy markets with various grades of crude reaching lows not seen in almost twenty years. There will come a point where I can Continue Reading
U.S. Drillers Face Doomsday Scenario As Some Crude Blends Hit $1
As the oil war and coronavirus demand destruction rage on, WTI crude prices briefly dipped below $20 per barrel, but many prices aren’t even fetching $20 per barrel as they Continue Reading
S&P 500 heads for biggest ever first-quarter plunge
Wall Street’s major indexes fell on Tuesday and the S&P 500 was headed for a record first-quarter decline on growing evidence of large-scale economic damage from the coronavirus pandemic. In Continue Reading
U.S. expected to renew sanctions waivers allowing Iran nonproliferation work: sources
The United States is expected to allow Russian, Chinese and European companies to continue their work at Iranian nuclear sites to make it harder for Tehran to develop nuclear weapons, Continue Reading
Three states push criminal penalties for fossil fuel protests amid coronavirus
Three states have moved toward enacting criminal penalties for protesting against fossil fuels amid the coronavirus pandemic. Kentucky Gov. Andy Beshear (D) was the first to enact such a law, Continue Reading
New Trump mileage standards to gut Obama climate effort
President Donald Trump is poised to roll back ambitious Obama-era vehicle mileage standards and raise the ceiling on damaging fossil fuel emissions for years to come, gutting one of the Continue Reading
Pressure Mounts on Insurance Companies to Pay Out for Coronavirus
Some regulators have declared moratoriums on cancellations and nonrenewals of policies. And some are urging car insurers to lower people’s bills. These states note that policyholders now working from home Continue Reading
Trump Administration, in Biggest Environmental Rollback, to Announce Auto Pollution Rules
The Trump administration is expected on Tuesday to announce its final rule to roll back Obama-era automobile fuel efficiency standards , relaxing efforts to limit climate-warming tailpipe pollution and virtually Continue Reading
U.S. Solar Industry Wants Government Bailout As Bankruptcies Loom
Coronavirus is hitting the energy industry hard. First, it instigated a breakup between the OPEC+ countries of Saudi Arabia and Russia, leading to an oil price war which then led Continue Reading