Conventional Energy

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U.S. Oil Output in Top Shale Regions to Hit Six-Month High in June, EIA Says

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Oil, Pinned Primary, US News / By

U.S. oil output from top shale-producing regions will rise in June to its highest in six months, the U.S. Energy Information Administration (EIA) said in its monthly Drilling Productivity Report on Monday.Production in the top basins will reach 9.85 million barrels per day (bpd), its highest since December, the EIA said. Shale production, which represents …

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US Natgas Prices Little Changed as Rising Demand Offsets Higher Output

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U.S. natural gas futures were little changed on Monday as forecasts for more demand next week than previously expected offset a rise in output over the weekend. Other factors also kept prices in check, including a bullish increase in the amount of gas flowing to liquefied natural gas (LNG) export plants with the return to …

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U.S. Energy Secretary to Visit Saudi Arabia, UAE This Week, Officials Say

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May 10 (Reuters) – U.S. Energy Secretary Jennifer Granholm will visit Saudi Arabia and the United Arab Emirates next week to work on “climate co-operation” and other issues, two Biden administration officials told Reuters on Friday. The visit will run from Tuesday through Thursday, with Granholm visiting the UAE first, one of the officials said. …

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Europe’s Gas Supply Once Again Hinges on One Company

CDN and International News, Conventional Energy, Latest, Natural Gas / By

Equinor now plays an outsized role in the ups and downs of the continent’s gas prices When the world’s top gas traders met in late April at a canal-side hotel on the outskirts of Amsterdam, the atmosphere was business-as-usual: coffee, croissants and wrangling over deals for the upcoming winter. Then came news of a leak …

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Oil Slips on Signs of Weak Fuel Demand, Strong Dollar

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(Reuters) – Oil prices extended declines on Monday amid signs of weak fuel demand and as comments from U.S. Federal Reserve officials dampened hopes of interest rate cuts, which could slow growth and crimp energy use in the world’s biggest economy. Brent crude futures slid 7 cents, or 0.1%, to $82.72 a barrel by 0624 …

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U.S. Energy Secretary to Visit Saudi Arabia, UAE next week, Officials Say

Conventional Energy, Latest, Oil, US News / By

May 10 (Reuters) – U.S. Energy Secretary Jennifer Granholm will visit Saudi Arabia and the United Arab Emirates next week to work on “climate co-operation” and other issues, two Biden administration officials told Reuters on Friday. The visit will run from Tuesday through Thursday, with Granholm visiting the UAE first, one of the officials said. …

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Oil Falls on Prospect of Higher-For-Longer U.S. Rates, Stronger Dollar

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

Summary Fed’s Logan says policy may not be tight enough Dollar rises after consumer sentiment data, yen weaker Speculators cut U.S. crude oil net longs, CFTC says US drillers cut oil rig count to lowest since Nov – Baker Hughes NEW YORK, May 10 (Reuters) – Oil prices fell by nearly $1 a barrel on …

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Biden Urged to Halt Oil Exports After Terminal Approved

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Climate activists taking a page from LNG export pause playbook Deepwater oil terminal approved in April, three others pending Climate activists who successfully pushed President Joe Biden to halt new US liquefied natural gas exports are setting their sights on proposed crude oil shipping facilities, after the administration approved a massive petroleum terminal last month. …

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Asian Spot LNG Prices Rise on signs of Stronger Demand

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(Reuters) – Asian spot liquefied natural gas prices rose this week on stronger demand amid high temperatures in north and south China, pushing European buyers to bid at relatively narrow discounts to attract sellers. The average LNG price for June delivery into north-east Asia rose to $10.50 per million British thermal units (mmBtu), from $10.40/mmBtu …

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OPEC Switches to ‘Call on OPEC+’ in Global Oil Demand Outlook

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, OPEC / By

(Reuters) – OPEC will stop publishing a calculation of the world’s demand for its own crude in its monthly oil report, two sources close to the matter said, focusing instead on forecasts for demand for oil from the wider OPEC+ group. The change reflects what has become long-standing cooperation between the members of the Organization …

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