Auto Added by WPeMatico
Barclays lowered its Brent crude prices forecast for this year by $8 to $85 per barrel due to higher supply, but noted that oil looks undervalued. Barclays in a note on Thursday said the cut in forecasts is primarily due to “a higher starting point for inventories and a potentially longer path to OPEC spare …
Barclays Cuts 2024 Brent Price Forecasts on Higher Supply Read More »
(Reuters) – Chesapeake Energy (CHK.O) said on Thursday it would buy smaller rival Southwestern Energy (SWN.N) in an all-stock transaction valued at $7.4 billion, a deal that would enable the second-largest U.S. natural gas producer to take the top spot. The move extends a recent spate of multi-billion deals in the U.S. energy sector including Exxon Mobil’s (XOM.N) $60-billion Pioneer Natural …
The head of the largest U.S. oil and gas lobby group on Wednesday said that if regulators slow down or stop approving liquefied natural gas exports, they will put allies in Europe and Asia at risk. American Petroleum Institute President Mike Sommers issued the warning in response to media reports this week that the administration …
Oil, Gas Lobby Group Warns Against U.S. Slowing LNG Approvals Read More »
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, …
U.S. Oil Stockpiles Rise More Than Forecast, Gasoline Builds to Feb 2022 High – EIA Read More »
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 …
COMMENTARY: U.S. Oil and Gas Production Growth Starts to Decelerate: Kemp Read More »
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 …
Biden’s Oil Policies Threaten the Next Energy Crisis, Trade Group Warns Read More »
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 …
COMMENTARY: War, Wind and Solar Spell Trouble for Gas Bulls Read More »
(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 …
Surging Freight Rates Close the door on US Crude Oil Shipments to Asia Read More »
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 …
Oil Steadies as Middle East Tensions Offset Economy Concerns Read More »
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 …
Biden Mulls Tougher Climate Test for New LNG Projects Read More »
