America’s Most Important Shale Patch Isn’t Going Anywhere
In the second quarter of 2022, the Permian Basin attracted nearly half of all oil and gas investments in the U.S. as the importance of energy security grows. This investment Continue Reading
Offshore Wind Turbines Soon To Join Rigs In Gulf Of Mexico
The Department of the Interior has announced steps to bring the opportunity of offshore wind energy to the Gulf of Mexico. In response to President Biden’s call to advance offshore Continue Reading
Oil Prices Unmoved By Small Crude, Gasoline Build
The American Petroleum Institute (API) reported a build this week for crude oil of 1.860 million barrels, while analysts predicted a build of 333,000 barrels. The build comes as the Continue Reading
Oil output in Permian to rise in August to highest on record -EIA
A drilling rig operates in the Permian Basin oil and natural gas production area in Lea County, New Mexico, U.S., February 10, 2019. REUTERS/Nick Oxford/File Photo NEW YORK, July 18 Continue Reading
U.S. Rig Count Rises Despite Chaotic Week In Oil Markets
The number of total active drilling rigs in the United States rose by 4 this week, according to new data from Baker Hughes published on Friday. The total rig count Continue Reading
Shell CEO warns of possible energy rationing this winter in Europe
Europe may be facing energy rationing this winter, Shell CEO Ben van Beurden said July 14 at Aurora Energy’s spring forum in Oxford. Russian gas supply curtailments have left much Continue Reading
U.S. crude, fuel stockpiles rise as demand slackens – EIA
U.S. crude oil and fuel stockpiles rose last week, bolstered by another big release from strategic reserves, while demand slackened, the Energy Information Administration said on Wednesday. Crude inventories (USOILC=ECI) Continue Reading
U.S. crude output and petroleum demand to rise in 2022 -EIA
– U.S. crude production and petroleum demand will both rise in 2022 as the economy grows, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) Continue Reading
Short-Term Energy Outlook
The July Short-Term Energy Outlook (STEO) is subject to heightened uncertainty resulting from a variety of factors, including Russia’s full-scale invasion of Ukraine. The possibility of economic activity being less robust than Continue Reading
API Reports Large Inventory Build As Oil Falls Back Below $100
The American Petroleum Institute (API) reported a large build this week for crude oil of 4.762 million barrels, while analysts predicted a draw of 1.933 million barrels. The build comes Continue Reading