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(Reuters) Major U.S. natural gas producers are preparing to further curtail production in the second half of 2024, after prices sank nearly 40% over the past two months. Henry Hub gas futures have dropped to around $2 per million British thermal units (mmBtu), while in West Texas, Waha prices have turned negative a record number …
US Natural Gas Producers Eye More Output Cuts as Prices Sink Read More »
Republican presidential candidate Donald Trump says he will fill up the U.S. Strategic Petroleum Reserve if elected to another White House term in November. “I was filling that up at levels that they’ve never seen before. We have to fill up the strategic reserves immediately,” he said in an interview with Fox News. Democratic President …
Trump Says US Needs to Fill Up the Strategic Oil Reserves -Fox News Interview Read More »
(Reuters) U.S. crude oil stockpiles fell last week, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday. Crude inventories fell by 3.7 million barrels to 429.3 million barrels in the week ended Aug. 2, the EIA said, compared with analysts’ expectations in a Reuters poll for a 700,000-barrel draw. Crude stocks …
US Crude Stockpiles Fall, Fuel Inventories Rise, EIA Says Read More »
A U.S. court has overturned the Federal Energy Regulatory Commission’s (FERC) authorization for NextDecade’s Rio Grande LNG project for not issuing a supplemental environmental impact statement, the company said on Tuesday. The facility has been in development for several years, suffering repeated delays, and phase 1 is now expected to reach completion by early 2029 …
U.S. Court Overturns FERC’s Authorization for NextDecade’s Rio Grande Project Read More »
The U.S. Energy Information Administration on Tuesday forecast a larger decline in natural gas output this year compared to earlier estimates, citing record low prices earlier in 2024 that forced producers to curtail gas production. U.S. natural gas output will average around 103.3 billion cubic feet per day (bcfd) this year, the EIA said in …
EIA Forecasts Larger Decline in U.S. Natural Gas Output for 2024 Read More »
U.S. oil and gas production show further signs of flattening out or turning down, a delayed response to the decline in prices over the last two years after the initial shock caused by Russia’s invasion of Ukraine in early 2022. Total crude and condensates production from the Lower 48 states, excluding federal waters in …
U.S. Oil and Gas Output Curbed by Lower Prices: John Kemp Read More »
(Reuters) – U.S. oil refiner Phillips 66 is cutting more jobs to advance its strategic priorities and improve workforce efficiency, the company said on Tuesday. Phillips 66 spokesperson Al Ortiz confirmed that some jobs were being eliminated. “Phillips 66 continues to look to ways to position our organization to help advance its strategic priorities The …
(Reuters) – The U.S. Energy Information Administration on Tuesday forecast tighter supply and demand balances for U.S. oil markets this year, while also lowering its outlook for crude prices, according to its Short-Term Energy Outlook. The EIA lifted its forecast for 2024 U.S. oil demand by 100,000 bpd to 20.5 million bpd. It left its …
EIA Sees Tighter U.S. Oil Market for 2024, Lowers Price Outlook Read More »
Shipments of Russian liquified natural gas to France more than doubled the first half of this year, according to new analyses of trade data, at a time when Europe has tried to pull back from energy purchases that help finance the Kremlin’s invasion of Ukraine. Europe has restricted oil imports from Russia, but natural gas …
Saudi oil giant sees demand “north of 106 million b/d” in 2025 “Robust” oil use points to “fairly healthy” market: CEO The selloff in global oil markets on perceived bad economic news was overdone because demand remains strong, according to top crude exporter Saudi Aramco. Brent crude dropped to almost $75 a barrel on Monday, …
Aramco CEO Says Oil Demand Is Strong and Recent Selloff Was Overreaction Read More »
