Conventional Energy

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U.S. Oil Stockpiles Rise More Than Forecast, Gasoline Builds to Feb 2022 High – EIA

Conventional Energy, Latest, Oil, US News / By

U.S. crude oil stockpiles rose unexpectedly last week while fuel inventories grew by more than expected, with gasoline building to its highest level in nearly two years, the Energy Information Administration (EIA) said on Wednesday. Crude inventories rose by 1.3 million barrels in the week ended Jan. 5 to 432.4 million barrels, the EIA said, …

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COMMENTARY: U.S. Oil and Gas Production Growth Starts to Decelerate: Kemp

Conventional Energy, Drilling Rigs, Latest, Natural Gas, Oil, US News / By

U.S. oil and gas production continued to climb in October, but there were indications of both starting to flatten and turn down in response to lower prices since the middle of 2022. Oil production from the Lower 48 states excluding Alaska and federal waters in the Gulf of Mexico rose to a record 10.9 million …

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Biden’s Oil Policies Threaten the Next Energy Crisis, Trade Group Warns

Conventional Energy, Latest, Natural Gas, Oil, US News / By

Declaration comes after US oil production hit a record in 2023 Head of industry trade group Mike Sommers spoke in interview By Jennifer A Dlouhy – Bloomberg US oil and gas production is booming, but policies being imposed now could jeopardize the country’s energy might, the industry’s top trade group is warning Washington. That sobering outlook …

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COMMENTARY: War, Wind and Solar Spell Trouble for Gas Bulls

Conventional Energy, Latest, Oil, Renewable Energy, Solar, US News, Wind / By

With supply rising rapidly and use in power generation threatened, overseas demand for LNG is the only bright spot around. By Liam Denning Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column. It is …

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Surging Freight Rates Close the door on US Crude Oil Shipments to Asia

Conventional Energy, Latest, Oil, US News / By

(Reuters) – The economic incentive to import oil from the U.S. Gulf Coast to Asia has closed as the cost of booking supertankers on the route has surged amid a jump in bookings for the vessels, traders said this week. With the arbitrage for U.S. shipments closed, Asian refiners may make up some of the …

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Oil Steadies as Middle East Tensions Offset Economy Concerns

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

Summary Libya’s 300,000 bpd of supply still offline U.S. crude stocks fall by 5.2 million barrels, API reports Euro zone facing possible recession, ECB VP says U.S. oil output to touch a record high in 2024 Coming up: EIA supply report, 1530 GMT (Reuters) – Oil steadied on Wednesday, giving up most of its earlier …

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Biden Mulls Tougher Climate Test for New LNG Projects

Conventional Energy, Latest, LNG, US News / By

Fossil fuel expansion will be critical issue as election nears Panel of government officials convened over the weekend The Biden administration is reevaluating the climate criteria it uses to approve new liquefied natural gas export facilities, threatening to stall pending projects as the 2024 election nears. A panel of government officials convened by White House …

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U.S. Natgas Output and Demand to Hit Record Highs Again in 2024 – EIA

Conventional Energy, Latest, Natural Gas, US News / By

U.S. natural gas production and demand, as well as liquefied natural gas (LNG) exports, will hit record highs again in 2024, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday. The EIA projected dry gas production will rise to 105.04 billion cubic feet per day (bcfd) in 2024 …

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U.S. Crude Production to Reach Record High in 2024, EIA Says

Conventional Energy, Latest, Oil, US News / By

U.S. crude production will rise to record highs in 2024 and 2025, but will grow less than it did last year, the U.S. Energy Information Administration (EIA) said on Tuesday. In its Short-Term Energy Outlook (STEO), EIA projected U.S. crude production will rise by 290,000 million barrels per day (bpd) to 13.21 million bpd this …

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U.S. Natgas Prices Up 4% to 7-Week High Ahead of Record Demand Next Week

Conventional Energy, Latest, Natural Gas, Tri-Pinned, US News / By

U.S. natural gas futures climbed about 4% to a seven-week high on Tuesday on forecasts for extremely cold weather next week that will boost demand to a record high. In addition to sky-high gas demand, extreme cold could cause production to drop by freezing oil and gas wells, pipes and other energy equipment as happened …

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