Conventional Energy

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Goldman Sachs Maintains 2025 Brent Oil Price Forecast at $76 Per Barrel

Conventional Energy, Latest, Oil, US News / By

Goldman Sachs on Friday maintained its forecast for Brent oil to average $76 per barrel in 2025, citing a balanced market situation, with lower OPEC+ supply offsetting an unexpected surge last month in commercial inventories at Organisation for Economic Co-operation and Development countries. “We maintain our annual average Brent forecasts of $76/bbl in 2025 and …

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A Winter Weather Puzzle Is Raising the Risk of Meteoric Energy Inflation

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

Natural gas, wheat and other commodities are poised for a rollercoaster ride on geopolitical tensions and shifting forecasts for cold. A winter forecasting enigma is poised to send prices for energy and food on a bumpy ride in the next few months, with commodities from natural gas to wheat at risk of breakneck gains against a backdrop of geopolitical …

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J.P. Morgan Expects Demand Trends to Favor US Natgas Over Oil

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

** J.P. Morgan expects natural gas producers to benefit from three distinct demand trends; build-out of LNG export capacity, rising power demand from electrification and coal-to-gas switching ** Says expectations of record U.S. oil supply, OPEC+ barrels return in 2025, Non-OPEC 2025 supply growth and potential policy de-regulations due to Republicans gaining control of the …

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Oil Gives Back Some Gains After Source Says OPEC+ to Delay Output Hike

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

(Reuters) – Oil prices pared some gains on Thursday after a source told Reuters OPEC+ has agreed to delay a planned oil output hike until April 2025. Brent crude was up 24 cents, or 0.3%, to $72.55 a barrel at 1237 GMT. It had been at $72.84 before Reuters reported the delay. U.S. West Texas …

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Bank Sold Over $270 million of US Oil Futures Ahead of OPEC+ Meet, Source Says

Conventional Energy, Energy Topics & Technology, Latest, Oil, OPEC, US News / By

(Reuters) – A single bank sold a large volume of U.S. oil futures contracts in early afternoon trading on Wednesday, a person with direct knowledge of the matter said, pushing prices down more than 1% within minutes and causing traders to scramble to decipher the reason. The sale, just hours ahead of an OPEC+ virtual …

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US Crude Oil Output Hit Record Last Week, EIA Data Shows

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(Reuters) – U.S. crude oil production rose by 20,000 barrels per day (bpd) to a record 13.513 million barrels per day in the week ended Nov 29, data from the U.S. Energy Information Administration (EIA) showed on Wednesday. The previous weekly record for U.S. oil output was 13.50 million bpd, hit most recently in the …

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US Crude Stocks Fall, Fuel Inventories Rise, EIA Data Shows

Conventional Energy, Energy Storage, Energy Topics & Technology, Latest, Oil, US News / By

(Reuters) – U.S. crude stocks fell while gasoline and distillate inventories rose last week, the Energy Information Administration (EIA) said on Wednesday. Crude inventories fell by 5.1 million barrels to 423.4 million barrels in the week ended Nov. 29, the EIA said, compared with analysts’ expectations in a Reuters poll for a 671,000-barrel draw. Crude …

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Biden Unveils $600 Million in New Financing for African Railway to Boost Critical Minerals Infrastructure

Conventional Energy, Energy Topics & Technology, Latest, Minerals, US News / By

Lobito railway will transport critical minerals to Atlantic Effort by US to counter Chinese dominance of mining in Africa President Joe Biden meets Lobito Atlantic Railway workers at the Port in Lobito, on Dec. 4.Photographer: Andrew Caballero-Reynolds/AFP/Getty Images President Joe Biden is rounding off his trip to Angola by announcing $600 million in new financing for a …

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Aramco, SLB and Linde Plan to Build Carbon Capture Project

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

(Reuters) – Saudi oil giant Aramco, top oilfield services company SLB and Linde, the world’s largest industrial gases company, have signed an agreement to build a carbon capture and storage project in Jubail, Saudi Arabia. Aramco will own 60% of the project while SLB and Linde will hold 20% each, the companies said in a joint statement on …

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