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Summary Brent 2024 forecast lowered to $84.01 a barrel WTI forecast cut to $79.56 a barrel OPEC+ to meet on June 2, seen keeping output cuts in place Price support seen at $80 if cuts extended -analyst For table of crude price forecasts, click (Reuters) – Analysts have lowered their 2024 oil price forecast for …
Oil Price Forecasts Cut as Supply Risks Trend Lower, Reuters Poll Finds Read More »
Global petroleum markets have become calm again after massive disruptions caused by the coronavirus pandemic, Russia’s invasion of Ukraine, and the sanctions imposed in response by the United States and its allies. Production and consumption are growing at similar rates; inventories are near normal; prices are close to average once adjusted for inflation; and volatility …
Oil Market Torpor Sends Investors to Other Commodities – John Kemp Read More »
U.S. natural gas futures slid about 2% on Thursday on signs some drillers were starting to pull more gas out of the ground and worries about the tremendous oversupply of gas still in storage with a bigger than expected storage build last week. Prices declined despite forecasts for higher demand next week than previously expected …
U.S. Natgas Prices Slide 2% on Bigger-Than-Expected Storage Build Read More »
Summary Euro zone inflation rose in May U.S. inflation data expected 1230 GMT OPEC+ working on complex deal to extend production cuts (Reuters) – Oil prices held steady on Friday as investors awaited U.S. inflation data for clues on the demand outlook before turning attention to Sunday’s OPEC+ meeting to determine the state of supply …
Oil Stabilises ahead of U.S. Inflation Data and OPEC+ Meeting Read More »
Summary EIA stocks data due later Thursday US, eurozone inflation due Friday OPEC+ meets June 2 to discuss supply cuts (Reuters) – Oil prices were broadly steady as pressure from U.S. data pointing to higher-for-longer rates was offset by inventory numbers showing strong demand for crude in the United States. Ahead of U.S. crude oil …
Oil Prices Steady as Solid U.S. Crude Demand Offsets Rate Concerns Read More »
(Reuters) – Saudi Arabia may announce a landmark secondary share offering in oil giant Aramco later on Thursday, pending final approval from Crown Prince Mohammed bin Salman, people with knowledge of the matter said. The landmark sale follows Aramco’s record IPO nearly five years ago, as the kingdom pushes ahead plans to diversify its economy away from …
White House forms panel to aid construction, prevent delays Construction of the power plants has been hit by cost overruns The White House is throwing its weight behind building large-scale nuclear reactors to help mitigate industry risk associated with the construction of power plants that can cost tens of billions of dollars. During a White …
New Big Nuclear Reactors Get Support From Biden Administration Read More »
U.S. utilities likely added a smaller-than-usual 78 billion cubic feet (bcf) of natural gas into storage last week as low gas prices earlier this year caused drillers to cut output, a Reuters poll showed on Wednesday. That compares with an injection of 106 bcf during the same week a year ago and a five-year (2019-2023) …
U.S. Natgas Stockpiles Seen up 78 Bcf in Week Ended May 24 Read More »
Prolific oil and gas developer Double Eagle is exploring a sale of its latest Permian Basin-based producer in a deal that could be worth more than $6.5 billion, including debt, according to people familiar with the matter. The Double Eagle team is expected to launch a sale process for the producer in the second half …
Double Eagle Explores $6.5 Billion Sale of Shale Oil Producer, Sources Say Read More »
(Reuters) – ConocoPhillips on Wednesday agreed to buy Marathon Oil in a $22.5 billion deal, the latest in a series of mega-mergers in the oil and gas industry as companies look to bolster reserves. The U.S. oil and gas industry has been riding a consolidation wave over the last two years. Last year was one of …
ConocoPhillips to Buy Marathon Oil for $22.5 Bln in Latest Energy Merger Read More »
