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Asian nation dominated conversations at APPEC event this week Slowing economy, energy transition erode post-Covid recovery For the first time in two decades, China no longer looks like the engine driving global crude demand, which is uncharted waters for many of the traders and executives that gathered for the APPEC oil conference in Singapore this …
Oil Traders Confront a New World Without China Bull Factor Read More »
The candidate touts the benefits of energy independence even as she pledges to continue Biden’s decarbonization push. Kamala Harris has a claim to serving in one of the greatest presidential administrations for the US fossil fuel industry in history. Domestic oil and gas output, refining margins and company profits have all hit record highs during her …
U.S. Oil Boom Turns Kamala Harris Into an Unlikely Fracking Supporter…But For How Long? Read More »
Summary IEA’s 2024 demand growth forecast cut by 7.2% Projection for 2025 remains unchanged Oil prices pare gains after report (Reuters) – The International Energy Agency (IEA) has cut its 2024 oil demand growth forecast by 70,000 barrels per day (bpd), or about 7.2%, to 900,000 bpd, it said in its monthly oil market report …
IEA Cuts 2024 Oil Demand Growth Forecast on China Slowdown Read More »
Summary Makes second cut in 2024 oil demand growth forecast Sees headwinds for China’s diesel, gasoline demand going forward IEA to publish updated forecasts on Thursday (Reuters) – OPEC on Tuesday cut its forecast for global oil demand growth in 2024 reflecting data received so far this year and also trimmed its expectation for next …
OPEC Again Lowers 2024, 2025 Global Oil Demand Growth View Read More »
(Reuters) – India wants oil producers group OPEC and its allies to raise oil output as there are countries such as India where fuel demand is rising, the nation’s oil secretary Pankaj Jain said on Thursday. The Organization of the Petroleum Exporting Countries (OPEC) and allies, together called OPEC+, last week agreed to delay a planned oil …
India Wants OPEC+ to Raise Oil Output, Oil Secretary Says Read More »
Summary Hurricane Francine makes landfall in Louisiana Nearly 39% of Gulf of Mexico oil production offline IEA’s 2024 oil demand growth forecast cut by 7.2% EIA data shows U.S. oil stockpiles rose last week Sept 12 (Reuters) – Oil prices rose almost 2% on Thursday, extending a rebound spurred by concern over Hurricane Francine’s impact …
Oil Prices Jump Nearly 2% on Fears Over Hurricane Impact on U.S. Output Read More »
About 39% of crude production and 49% of natural gas output in the U.S. Gulf of Mexico were shut on Wednesday as hurricane Francine barreled towards the Louisiana coast, the U.S. Bureau of Safety and Environmental Enforcement said. Francine was moving northeast on Wednesday with maximum sustained winds of 90 miles per hour (150 kph), …
Nearly Half of Gas Output at U.S. Gulf of Mexico Shut Due to Francine Read More »
U.S. natural gas futures climbed about 2% to an eight-week high on Wednesday as oil and gas producers continued to cut output before Hurricane Francine slams into the Louisiana coast later Wednesday. Front-month gas futures for October delivery on the New York Mercantile Exchange rose 4.9 cents, or 2.2%, to $2.281 per million British thermal …
U.S. oil stockpiles rose across the board last week as crude imports grew and exports dipped and as gasoline and distillate demand weakened, the Energy Information Administration (EIA) said on Wednesday. Crude inventories rose by 833,000 barrels to 419.1 million barrels in the week ending Sept. 6, the EIA said, compared with analysts’ expectations in …
U.S. Oil Stocks Build as Crude Imports Rise, Fuel Demand Weakens – EIA Read More »
Crown LNG also pursuing import projects in Scotland, India To-be-disclosed location in US would directly supply importers An upstart liquefied natural gas developer that first considered constructing import terminals in Scotland and India is now turning its sights to building out export capacity from the US Gulf Coast, joining a slew of projects vying to supply the world. Norwegian …
Norwegian Developer Eyes New LNG Export Project in US Gulf Read More »
