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(Reuters) – The United States has not asked India to cut Russian oil imports as the goal of sanctions and the G7-imposed $60 per barrel price cap is to have stable global oil supplies while hitting Moscow’s revenue, an American treasury official said on Thursday. India has emerged as one of the top buyers of Russian sea-borne …
U.S. Has Not Asked India to Cut Russian Oil Purchases, American Official Says Read More »
Summary Lukoil refinery struggles to repair gasoline unit U.S. firm UOP says not helping Lukoil All Russian refineries use Western technology, software Ukrainian drones damage dozens of Russian plants (Reuters) – When engineers at Russian oil firm Lukoil discovered a turbine had broken at their largest refinery on January 4, they quickly realised the problem …
U.S. Sanctions Hamper Russian Efforts to Repair Refineries Read More »
(Reuters) – Oil prices were steady on Thursday, shored up by concerns about lower supply as major producers keep output cuts in place and on signs of stronger economic growth in the U.S., the world’s biggest oil consumer. Brent futures for June fell 5 cents to $89.30 a barrel at 0919 GMT. U.S. West Texas …
U.S. oil production dropped sharply at the start of the year as exceptionally cold weather for ten days in the middle of January caused widespread freeze offs at oil wells. Nationwide crude and condensates output was down by almost 24 million barrels or 0.8 million barrels per day (b/d) in January 2024 compared with December …
U.S. Oil and Gas Output was Severely Hit by Winter Storm: John Kemp Read More »
U.S. crude stocks rose while gasoline and distillate inventories fell in the week ending March 29, the Energy Information Administration said on Wednesday. Crude inventories rose by 3.2 million barrels to 451.4 million barrels last week, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.5 million-barrel draw. Oil futures pared …
U.S. Crude Stocks Rise, Gasoline and Distillate Inventories Fall – EIA Read More »
The U.S. Department of Energy on Wednesday said it will not award oil supply contracts for Louisiana’s Bayou Choctaw Strategic Petroleum Reserve (SPR) site in August and September due to high oil prices. “We monitor market dynamics to remain nimble and innovative in our successful replenishment approach to protect this critical national security asset,” said …
U.S. Won’t Award Contracts for Louisiana SPR Site Over Oil Price, Energy Department Says Read More »
Bank of America (BofA) Global Research has raised its 2024 Brent and WTI oil price forecasts, citing escalating geopolitical tensions and the OPEC+ producer group maintaining supply curbs. The bank now expects Brent and WTI crude prices this year to average $86 and $81 per barrel respectively, with prices of both peaking around $95 per …
BofA Hikes 2024 Oil Forecasts on Tighter Supply, Geopolitical Risks Read More »
There was a significant decline on Tuesday in the amount of U.S. natural gas being liquefied for export with a drop in demand from Cheniere Energy’s Corpus Christi plant in Texas and its Sabine Pass operation in Louisiana, according to data from financial firm LSEG. Cheniere is the largest U.S. producer and the world’s second …
U.S. Natural Gas Demand for LNG Falls as Cheniere Reduces Output Read More »
Summary OPEC+ JMMC meets on Wednesday at 1100 GMT Producers earlier agreed to extend output cuts Oil rallies to $89 a barrel, highest this year LONDON, April 3 (Reuters) – An OPEC+ ministerial panel is unlikely to recommend any oil output policy changes at a meeting later on Wednesday, three OPEC+ sources told Reuters, following …
OPEC+ Unlikely to Change Output Policy at Panel Meeting Read More »
CALGARY — Persistent drought conditions are poised to challenge natural gas producers even as they aim to ramp up in anticipation of Canada’s first liquefied natural gas export terminal opening, a new report warns. The report by Deloitte Canada identifies potential water shortages in Western Canada as a key risk facing the oil and gas …
Drought Poses Key Risk to Canada’s Natural Gas Producers in 2024 Read More »
