Saudi Aramco said oil-output capacity across the world is dropping quickly and companies need to invest more in production. It’s a “huge concern,” Chief Executive Officer Amin Nasser said in Continue Reading
Saudi Oil Minister: OPEC+ needs to remain cautious with its approach to oil production adjustments despite rising prices OPEC+ is adding 400,000 bpd to its combined output every month Some Continue Reading
U.S. natural gas futures soared almost 12% to a near three-week high on Monday on expectations liquefied natural gas (LNG) exports will rise and forecasts calling for cooler weather and Continue Reading
U.S. power utility Dominion Energy and Spanish turbine maker Siemens Gamesa said on Monday they will build the first U.S. factory to make blades for offshore wind power, part of Continue Reading
Higher retail natural gas prices will be the primary driver for the expected increase in natural gas heating expenditures this winter U.S. households that primarily use natural gas for space Continue Reading
U.S. liquefied natural gas (LNG) company Cheniere Energy Inc (LNG.A) said on Monday that its marketing arm will sell LNG to a unit of Glencore PLC (GLEN.L) , moving Cheniere’s Continue Reading
Capital discipline, hedging could limit production gains US gas production surged Oct. 25 to its highest since Hurricane Ida struck the US Gulf Coast in late August, foreshadowing a potential Continue Reading
Germany, Denmark, Ireland and six other European countries said on Monday they would not support a reform of the EU electricity market, ahead of an emergency meeting of energy ministers Continue Reading
Energy transition and peak demand predictions have spooked investors in oil, putting the prospect of peak production sooner than anticipated accompanied by wild price spikes. Key climate talks are set Continue Reading
Predicting oil—or, apparently, gas—prices is a notoriously uncertain business Over the longer term, predicting oil prices becomes even more challenging But besides crazy bets on high oil prices in the Continue Reading
You may find it curious that the price of oil is still above $80 a barrel. This is also why gasoline prices are at the highest levels since 2014. But, Continue Reading
Fracking fluid and oil wastewater are dumped into an unlined pit located right up against the Petroleum Highway in Kern County, California. Credit: Sarah Craig/Faces of Fracking California has a Continue Reading
Oil swung between gains and losses as traders weigh the ongoing impact of a global energy crunch and dwindling inventories at a key U.S. storage hub. Front-month futures in New Continue Reading
Natural-gas prices have shed 16% since hitting a 13-year high earlier this month, reversing some of a run-up that has prompted fears of exorbitant heating bills and higher manufacturing costs at a Continue Reading
China’s thermal coal futures plunged on Friday and turned in their worst week in five months, following Beijing’s strongest intervention in years to boost supply and cool runaway prices of Continue Reading
One type of crude from America’s most prolific shale patch is having its moment, riding on the coattails of the global winter fuels crunch that has caused massive price rallies. Continue Reading
Stockpiles at the biggest U.S. crude depot are quickly approaching critically low levels. Stockpiles at the biggest U.S. crude depot are quickly approaching critically low levels. The last time that Continue Reading
Stockpiles at the biggest U.S. crude depot are quickly approaching critically low levels. The last time that happened, crude cost more than $100 a barrel. The storage tanks in Cushing, Continue Reading
Putin: “Currently, the OPEC+ countries are increasing production volumes, even slightly more than they agreed to do, but not everyone can do it,” Some OPEC+ members—including OPEC’s Angola and Nigeria Continue Reading
Oil swung between gains and losses as traders weigh the ongoing impact of a global energy crunch and dwindling inventories at a key U.S. storage hub. Front-month futures in New Continue Reading
Oil prices fell on Friday with Brent poised for its first weekly dip in seven weeks as demand for oil products in power generation cooled off amid easing coal and Continue Reading
Brent Crude prices hit $86.10 per barrel early on Thursday Profit-taking eased the prices on Thursday “The reluctance of OPEC+ to pump more in the short term suggests that oil Continue Reading
Oil hit a three-year high above $86 a barrel on Thursday driven by tight supply and a global energy crunch, although prices eased as some investors took profits on signs Continue Reading
Oil slid by the most in two weeks, falling from overbought territory amid concerns around global economic growth. Futures in New York fell 1.1% on Thursday after holding at the Continue Reading
Natural-gas prices have shed 19% since hitting a 13-year high earlier this month, reversing some of a run-up that has prompted fears of exorbitant heating bills and higher manufacturing costs at a Continue Reading
U.S. antitrust regulators have extended the approval process for at least five oil and gas mergers and acquisitions in the last three months, as President Joe Biden’s administration scrutinizes deals Continue Reading
Back in April 2020, the landlocked West Texas Intermediate crude oil price briefly crashed into negative territory – a stunning turn of events that cost traders massive losses – when Continue Reading
Surging prices for natural gas are threatening to eat up the profit some oil refiners are making on their fuels, forcing them to cut processing rates and even altering normal Continue Reading
Private equity firms are looking to sell companies and land they own in the second-largest U.S. natural gas producing formation, where values have surged along with gas prices worldwide and Continue Reading
Oil slipped after hitting a seven-year high following a surprise draw in U.S. crude stockpiles and a robust decline in fuel supplies. Futures in New York edged toward $83 a Continue Reading
The oil price rally is far from over, with inventory drawdowns across the world suggesting the market is far from being balanced OPEC+ appears in no rush to add supply Continue Reading
Oil prices could hit $100 a barrel during the first half of 2022 amid low global commercial stocks, Iraq’s Oil Minister Ihsan Abdul Jabbar Ismaael said on Wednesday, as carried Continue Reading
U.S. crude and fuel inventories tightened further last week, as supplies of gasoline hit a two-year low and inventories at the largest U.S. commercial storage hub dropped to a three-year Continue Reading
While electric vehicles are undoubtedly the future, the question of whether or not our power grid is also ready for the “future” has started to surface. Especially in places like Continue Reading
Highlights US crude exports averaged 3.06 million b/d last week: EIA Trans-Atlantic Aframax rates climb nearly 72% since start of October An Oct. 20 report from the US Energy Information Continue Reading
$100 Oil is no longer an ‘outrageous’ bet in the call-options market Some speculative traders are now betting on $200 oil in December 2022 For those betting on $100 oil, Continue Reading
The American Petroleum Institute (API) on Tuesday reported its fourth straight week of crude oil inventory builds. The week, according to the API, the build was 3.294 million barrels-strong. U.S. Continue Reading
A surge in oil prices is drawing fund managers back into shares of oil and gas companies, even as some remain unsure that the price gains will stick. Energy stocks Continue Reading
Oil rose from the highest settlement since 2014 as investors assessed the energy crunch roiling global markets. Futures in New York edged toward $83 a barrel after rising 2.5% over Continue Reading
U.S. gas prices recently climbed to their highest in real terms for more than a decade, as energy shortages and spiking prices in Europe and Asia work their way back Continue Reading
With WTI trading above 80 per barrel, shale drillers in the US are increasingly likely to reduce capital discipline and use their recent cash windfall on new drilling rigs in Continue Reading
Energy security and emissions reduction targets, especially in China, are prompting more buyers to seek long-term contracts The sellers, for their part, now ask for higher prices in the discussions Continue Reading
Saudi Aramco has cut prices for Asia-bound cargoes in November 2021 by 10-50 cents per barrel, with the heaviest Arab Heavy stream seeing the most marked month-on-month change Seemingly eager Continue Reading
U.S. oilfield firm Halliburton Co (HAL.N) on Tuesday posted its third consecutive quarterly profit and said customer spending in the United States could jump 20% next year, as stronger oil Continue Reading
Crude oil production in the Permian has climbed closer to pre-pandemic levels, according to the latest drilling productivity report of the Energy Information Administration. According to the report, oil production Continue Reading
The OPEC+ group saw its overall compliance with the collective oil production cuts at 115 percent in September, a delegate told Argus on Monday, down from the 116-percent compliance in Continue Reading
OPEC+ compliance with oil cuts fell slightly to 115% in September, sources said, indicating that as the alliance raises production targets, some members are still falling short as they face Continue Reading
Oil output in America’s most prolific shale patch is getting closer to levels seen before the pandemic-driven market crash, as crude prices surge. While total production in the U.S. is Continue Reading
The Drilling Productivity Report (DPR) rig productivity metric new-well oil/natural gas production per rig can become unstable during periods of rapid decreases or increases in the number of active rigs Continue Reading
Russia’s Gazprom has damped hopes for additional gas exports to Europe next month as the continent struggles with record prices, despite recent hints from President Vladimir Putin that more could Continue Reading
