The U.S. ban on Russian oil and gas imports is likely to leave more cargoes at sea with no buyers, and the European Union’s decision to continue imports was unlikely Continue Reading
Daily operations at many European refineries rely on a Russian crude diet. The EU agreeing to an outright ban on Russian oil is unlikely given its members’ dependence on the Continue Reading
The possibility that the United States might ban Russian oil imports has triggered a surge in Brent crude to almost $140 a barrel, its highest level since 2008. read more Continue Reading
The United States and European allies are exploring banning imports of Russian oil, U.S. Secretary of State Antony Blinken said on Sunday, and the White House coordinated with key Congressional Continue Reading
Big public shale drillers aren’t rushing to boost production following the pandemic. Small, privately held shale drillers are increasingly drilling activity as they see a chance to significantly ramp up Continue Reading
The Ukraine invasion may be a push in the direction of more serious energy problems, emerging primarily from the fact that other countries will want to punish Russia. Russia holds Continue Reading
Friday, March 4th, 2022 Russia’s invasion of Ukraine has triggered arguably the wildest week in oil trading since Saddam Hussein’s attack on Kuwait back in 1990 – in fact, it Continue Reading
Member states of the International Energy Agency have finalized their contributions to a 60 million barrel oil release announced this week to buoy prices sent soaring by Russia’s invasion of Continue Reading
U.S. energy firms this week cut the number oil rigs even as Russia’s invasion of Ukraine drove crude prices to their highest since 2008. U.S. oil rigs fell three to Continue Reading
IEA presents 10-point plan to cut Europe’s reliance on Russian gas imports. Europe only has around seven months before the start of the next winter season. IEA: fast and significant Continue Reading
Permian now numbers 320 rigs, up 4 Basin is still 100-plus off pre-pandemic highs Inflation bites into drilling, completion budgets The US oil and gas rig count grew four in Continue Reading
Investors, traders, and politicians alike are scrambling. Market panic is here, according to Rystad Energy’s senior oil market analyst Louise Dickson, who made the comment in a statement sent to Continue Reading
Fears of disruptions in the supply of Russian oil and gas, especially for Europe, reach fever pitch. Sanctions begin to impact physical crude flows from Russia. Hedge fund manager Pierre Continue Reading
America’s shale industry is looking to ramp up production, but it is facing two major hurdles that could curb its trajectory. Supply chain issues, runaway inflation and a growing labor Continue Reading
Russia’s oil and gas condensate output rose in February to 11.06 million barrels per day (bpd), according to Reuters calculations based on an Interfax report on Wednesday, while trading has Continue Reading
Russian oil sales are increasingly under an embargo in all but name, threatening a vital source of global crude supply. While there are currently no sanctions in place preventing companies Continue Reading
A proposal by Republican lawmakers to increase U.S. crude oil production amid the fast-deteriorating situation in Ukraine that could compromise the security of energy flows was a “misdiagnosis”, according to Continue Reading
The Ukraine conflict is nowhere near resolution and looks set to continue for some time. Russia’s energy supplies are very much at risk, either due to being withheld by Russia Continue Reading
Goldman Sachs: Enormous Amount of Oil Could Be Disrupted Oil surged as energy and commodity markets were thrown into disarray after Western nations unleashed more sanctions to isolate Russia following Continue Reading
The number of active drilling rigs in the United States rose by 5 this week—the 18 th straight weekly increase to the number of oil and gas rigs in the Continue Reading
Much of the information for this post comes from data at shaleprofile , and assessments by the USGS . In addition a paper published in Jan 2022 by Wardana Saputra Continue Reading
Energy industry leaders believe the energy transition is accelerating faster than ever with 2022 set to be a strong year for industry growth. Energy professionals revealed that energy industry leaders Continue Reading
Oil tanker rates are soaring globally as traders scramble to cope with jitters over possible disruption in Russian supplies, as well as war risk premiums for ships plying the Mediterranean Continue Reading
U.S. crude stockpiles rose sharply, while gasoline and distillate inventories fell last week, the Energy Information Administration said on Thursday. Crude inventories (USOILC=ECI) rose by 4.5 million barrels in the Continue Reading
The American Petroleum Institute (API) estimated the inventory build this week for crude oil to be 5.983 million barrels after analysts predicted a build of 767,000 barrels . U.S. crude Continue Reading
Highlights Russia-Ukraine risks keep oil prices elevated DOE offered 50 million barrels in November US SPR inventory falls to lowest in 19 years The Biden administration signaled Feb. 22 that Continue Reading
The Biden administration has delayed issuing permits for new oil and gas drilling on federal land, a move that could complicate efforts to tame gasoline prices that are poised to Continue Reading
Some of the world’s biggest oil companies and commodity traders are at risk of disruption to their extensive business operations in Russia if the west follows through with “unprecedented” sanctions Continue Reading
Middle Eastern oil producers hiked their March-loading formula prices on the back of tight inventories and strong demand. The divergence between OPEC’s self-reported production figures and third-party assessments continues to Continue Reading
Analysts are predicting higher-for-longer oil prices, and it’s becoming a major problem for Biden. The consequences of underinvestment on a global level are only beginning to be felt now. Despite Continue Reading
Since the oil crisis of the 1970s, America has relentlessly pursued the utopia of energy independence. Now, nearly 50 years later, it seems America has finally accomplished that dream. Energy Continue Reading
The Oklahoma City home of Devon Energy, which has raised its dividend to a record level. America’s largest frackers are reporting huge profits but plan to keep oil production in Continue Reading
America’s largest frackers are reporting huge profits but plan to keep oil production in low gear this year, adhering to an agreement with Wall Street, even as prices approach the $100-a-barrel Continue Reading
As oil prices have risen, observers that expected to see U.S. shale growth explode have been bitterly disappointed. According to executives at some of the biggest public shale firms, oil Continue Reading
Higher net crude oil imports are set to make the United States a net petroleum importer this year again, as in 2021, after a historic shift of being a net Continue Reading
The number of active oil and gas rigs in the United States climbed for a 17 th straight week, with both natural gas and oil rigs increasing. The number of Continue Reading
Global supplies of diesel are dwindling as refiners struggle to keep pace with rapid post-pandemic demand recovery, exacerbating an acute global energy shortage which has already sent the prices of Continue Reading
Forecast Highlights Global liquid fuels The February Short-Term Energy Outlook (STEO) assumes U.S. GDP grew by 5.7% in 2021 and will grow by 4.2% in 2022 and by 2.8% in 2023. We Continue Reading
The U.S. shale patch is experiencing its best-ever economics this year thanks to a combination of disciplined spending and high oil prices. The Permian basin is still leading U.S. shale Continue Reading
Earlier this month, the Energy Information Administration reported that oil output in the Permian shale play had hit a record, and it was going to continue growing. And now, the Continue Reading
Crude oil production in the United States could reach 12.6 million barrels daily next year, which would be a record high on an annual-average basis, the Energy Information Administration said Continue Reading
Highlights Gasoline stocks fall 1.64 million barrels Implied demand hits 6-week high Cushing draw leads crude stocks down 4.76 million barrels US gasoline inventories posted a counter-seasonal draw in the Continue Reading
Global head of commodities research at Goldman Sachs: all commodity markets are in a state of shortage right now. In all commodities, the Bloomberg Commodity Spot Index tracking 23 energy, Continue Reading
Can oil bankers learn renewable tricks? They may need to in this climate, judging by the experience of Douglas MacKenzie, a Citigroup banker who has spent decades advising global energy Continue Reading
U.S. shale drillers are looking to boost production in the short term Industry data suggests that well depletion is advancing Drillers remain upbeat about the short term forecast for shale Continue Reading
Oil prices have yet another reason to remain elevated as cold winter weather and refiners struggle to keep up with the rising demand for heating oil and diesel. Heating oil Continue Reading
U.S. energy firms this week added oil and natural gas rigs for a fifth week in a row for the first time since November as crude prices extended their rally Continue Reading
The world’s leading rater of green credentials is rewarding some of Wall Street’s biggest banks even though they continue to lend billions of dollars to fossil-fuel companies. Those credentials come Continue Reading
Ohio’s House Bill 6 was widely regarded as the worst energy policy in the United States. The passage of House Bill 6 was so odorous of underlying offense and scandal Continue Reading
Crude prices rallied on Friday morning as a result of small outages in America’s largest shale play and ongoing political tensions between Russia and Ukraine. As if explosions in Nigeria Continue Reading
