U.S. crude stocks fell in the latest week but fuel inventories rose, the government said on Wednesday,as refiners picked up activity, while industry production hit its highest in more than Continue Reading
Permian Highway Pipeline reached a final investment decision to move forward with a proposed expansion project, Kinder Morgan said June 29, part of a wave of new takeaway capacity projects Continue Reading
Oil prices climbed higher today after the U.S. Energy Information Administration reported a crude oil inventory draw of 2.8 million barrels for the week to June 24. A day earlier, Continue Reading
The number of workers active in the Permian has dramatically increased since the invasion of Ukraine in late February. More oil workers are being trained to operate in the Permian, Continue Reading
The American Petroleum Institute (API) reported a large draw this week for crude oil of 3.799 million barrels, while analysts predicted a draw of 110,000 barrels. The build comes as Continue Reading
– U.S. crude inventory in the Strategic Petroleum Reserve (SPR) fell by 6.9 million barrels in the week to June 24, according to data from the Department of Energy. Stockpiles Continue Reading
The international community should explore all options to alleviate a Russian squeeze of energy supplies that has spiked prices, including talks with producing nations like Iran and Venezuela, a French Continue Reading
Growing uncertainty over economic growth is beginning to weigh on the oil price rally. Slowing demand and the historic strategic petroleum reserve release have been major factors in the selloff. Continue Reading
A guest post by Ovi Each month the EIA produces four reports which project oil output for the US and the World. The Short Term Energy Outlook (STEO) forecasts oil Continue Reading
June 27 (Reuters) – U.S. shale oil producers are returning to existing wells and giving them a second, high-pressure blast to lift output for a fraction of the cost of Continue Reading
The EPA is considering a new label for parts of the Permian Basin that could deter or slow oil and gas drilling in certain parts of the prolific Permian Basin. Continue Reading
The world’s most-watched oil data report won’t be released this week due to a power problem. Oil prices, meanwhile, are climbing higher on Friday to cancel out losses from earlier Continue Reading
The number of total active drilling rigs in the United States rose by 13 this week, according to new data from Baker Hughes published on Friday. The total rig count Continue Reading
The business activity index in the energy firms operating in Texas, northern Louisiana, and southern New Mexico jumped in the second quarter to the highest level in six years, but Continue Reading
The American Petroleum Institute (API) reported a build this week for crude oil of 5.607 million barrels, while analysts predicted a draw of 1.433 million barrels. It is the first Continue Reading
Investments in global energy supplies will jump this year, led by an expansion in no-emission or low-emission capacity but the spending won’t be sufficient to tame soaring energy prices, or Continue Reading
Highlights ExxonMobil wins part of Qatar LNG expansion Kuwait can increase oil output: KPC CEO Underinvestment causing high prices: Qatar’s Kaabi Oil and gas markets may be tight for another Continue Reading
Rystad Energy’s… Diesel and gasoline markets are witnessing crack spreads in the $50-$60 per barrel range due to inventory stocks across the world being at record lows. The global oil Continue Reading
U.S. energy firms this week added oil and natural gas rigs for a second week in a row as crude production returned to pre-pandemic levelsand President Joe Biden slammed oil Continue Reading
The number of total active drilling rigs in the United States rose by 7 this week, according to new data from Baker Hughes published on Friday. The total rig count Continue Reading
Russia’s Rosneft PJSC is proceeding with its flagship Vostok Oil project in the Arctic, Chief Executive Officer Igor Sechin said, just over a week after a key partner announced it’s Continue Reading
Robust demand from Latin America is set to lift US Gulf Coast fuel exports to new heights this month, hampering efforts to build up national inventories amid soaring prices. Waterborne Continue Reading
U.S. refiners last month imported the most heavy crude in nearly two years, customs data showed, as they cranked up motor fuel production and sought to replace sanctioned Russian oil. Continue Reading
UN Secretary General: investing in fossil fuels is delusional. Anti-oil narrative clashes with reality of increasing demand. IEA has changed its narrative and is now calling for more production Last Continue Reading
The U.S. Department of Energy on Tuesday said it was selling up to 45 million barrels of oil from the Strategic Petroleum Reserve as part of the Biden administration’s previously Continue Reading
Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 84,000 barrels per day (bpd) to a record 5.316 million Continue Reading
U.S. Shale production in the seven most prolific shale basins is set to increase 143,000 bpd in July to 8.91 million bpd, according to the Energy Information Administration’s latest Drilling Continue Reading
Global public companies representing 60% of total non-OPEC liquid fuels production spent last year $244 billion on exploration and development, down by 28% compared to the pre-pandemic average, the Energy Continue Reading
Demand for Middle East medium sour crudes, such as Oman, Upper Zakum and Al-Shaheen, continued to grow as prices for light sour grades from the region, such as Murban, turn Continue Reading
The number of total active drilling rigs in the United States rose by 6 this week, after drilling increases stalled out in the week prior, according to new data from Continue Reading
As US motorists pay record prices at the pump, Joe Biden has pleaded with the country’s oil producers to open the taps and stem the surge. But those calls — Continue Reading
The decision by OPEC+ to boost its production quotas did not have the desired effect on oil markets, with prices having increased since then. One of the main reasons for Continue Reading
U.S. distillate inventories have started to climb seasonally – which should temper some of the bullishness about oil prices and refining margins in the short term. Stocks usually increase at Continue Reading
Russian President Vladimir Putin said on Thursday that Russian companies will not block off their oil wells despite the West’s efforts to lessen its dependence on energy supplies from Moscow. Continue Reading
Some analysts have predicted that Western sanctions on Russia, combined with the EU’s embargo on Russian crude oil and tanker insurance, would lead to the inevitable shut down of Russian Continue Reading
Citi’s Morse Says Booming US Exports Behind Crude Runup Oil maintained its gains after US government data showed crude inventories in the largest storage hub and gasoline stockpiles dropped, offering Continue Reading
U.S. crude oil refinery inputs averaged 16.4 million barrels per day during the week ending June 3, 2022 which was 355,000 barrels per day more than the previous week’s average. Continue Reading
Crude oil prices moved lower today after the Energy Information Administration reported a crude oil inventory build of 2 million barrels for the week to June 3. This compared with Continue Reading
IEA: Europe could be forced to start rationing energy this winter. Birol: The world faces a “much bigger” energy crisis than the one of the 1970s. On Wednesday, Birol called Continue Reading
The U.S. and its allies are searching for ways to limit further surges in global oil prices, attempting to balance efforts to cut off Russia’s revenue from its energy sales Continue Reading
Forecast Highlights Global liquid fuels The June Short-Term Energy Outlook (STEO) is subject to heightened levels of uncertainty resulting from a variety of factors, including Russia’s full-scale invasion of Ukraine. Global macroeconomic Continue Reading
Boasting a quarter of the planet’s gas reserves and more than 5 per cent of its crude oil, Russia’s economy has long been dominated by the energy sector. As the Continue Reading
In 2020, BP shocked energy markets, declaring the world was already past peak oil demand. Now, when analysts talk about peak oil, they are referring to that point in time Continue Reading
Let’s park up all the environmental downsides of oil usage for the moment. Because despite all of oil’s sins, most of humanity depends on it for everything from the clothes Continue Reading
When President Biden meets Crown Prince Mohammed bin Salman in Saudi Arabia, he will be following in the footsteps of presidents like Jimmy Carter, who flew to Tehran in 1977 Continue Reading
Boost to Tight Market Oil headed for a sixth weekly advance after a keenly anticipated OPEC+ meeting delivered only a modest increase in output that failed to assuage concerns over Continue Reading
Saudi Arabia, UAE may pick up the slack of other OPEC+ members Iranian nuclear agreement and oil deal are unlikely this year the US may turn a further blind eye Continue Reading
The week has seen quite a lot of turmoil in oil markets. With China finally coming out of its three-month lockdown nightmare, oil prices were moved by reports that Saudi Continue Reading
The supply crisis on the East Coast is growing worse, raising the specter of fuel rationing just as the US enters what is typically the heaviest time of year for Continue Reading
The Biden administration must thoroughly analyze the climate impacts of oil and gas leasing on nearly 4 million acres (1.6 million hectares) of federal land in five states before drilling Continue Reading
