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Chinese refiners are importing record amounts of Canadian crude after slashing purchases of U.S. oil Chinese refiners are importing record amounts of Canadian crude after slashing purchases of United States oil by roughly 90 per cent amid escalating trade tensions. A pipeline expansion in Western Canada that opened less than a year ago has presented …
China Pivots From U.S. to Canada for More Oil as Trade War Worsens Read More »
By Shariq Khan Forecast shows US shale oil boom fading after 20 years US oil output to peak at 14 million bpd in 2027, EIA says Production to fall rapidly from 2030 through 2050 US oil demand to cap post-pandemic gains next year US oil demand will not surpass 2019 levels or 2005 record NEW …
US Crude Oil Output to Peak by 2027, EIA Projects Read More »
By Scott Disavino Output to peak at 119.0 bcfd in 2032 vs 103.6 bcfd record high in 2023 Demand to peak at 92.4 bcfd in 2032 vs 90.5 bcfd record in 2024 LNG exports to peak at 26.8 bcfd in 2040 vs 11.9 bcfd record in 2024 April 15 (Reuters) – U.S. natural gas output …
US Natgas Output and Demand to Peak in 2032, EIA Says Read More »
GEORGETOWN, April 15 (Reuters) – A consortium led by U.S. Exxon Mobil (XOM.N) is about to begin the installation of its fourth floating oil production facility in Guyana, the South American country’s maritime regulator said in a notice on Tuesday. The floating production storage and offloading (FPSO) facility ‘One Guyana,’ built by SBM Offshore (SBMO.AS) …
Exxon Consortium to Begin Installation of Floating Oil Facility in Guyana Read More »
HSBC revised down its Brent crude price forecast on Tuesday, citing rising trade tensions and an expected reduction in global oil demand.The bank cut its Brent price forecast to $68.5 per barrel for 2025 and $65 per barrel for 2026. It also trimmed its global demand growth to 0.7 million barrel per day (mbd) for …
HSBC Lowers Brent Price Forecasts on Trade Tensions, Sluggish Oil Demand Read More »
Canadian power producer Capital Power Corp said on Monday it would buy two natural-gas fired power plant operators located in the PJM market for about $2.2 billion. The deal comes at a time when electricity prices are rapidly increasing in PJM, the United States’ biggest power market, and as demand for electricity continues to increase …
Capital Power to Expand in PJM Power Market with $2.2 Billion Deal Read More »
April 14 (Reuters) – The CEO of the largest U.S. power grid, PJM Interconnection, will leave his post at the end of the year, the organization said on Monday. Manu Asthana, who has led the PJM for more than five years, steps down at a time of rising electricity prices in the country’s biggest power …
Head of Biggest US Power Grid, PJM, to Step Down Read More »
April 14 (Reuters) – JP Morgan on Monday lowered its oil price forecasts for 2025 and next year, citing higher production from OPEC+ and weaker demand. The bank cut its 2025 Brent price forecast to $66 per barrel from $73 and its 2026 target to $58 from $61. It lowered the 2025 WTI price outlook …
JP Morgan Cuts Oil Price Forecasts on Weak Demand, Higher Output Read More »
(Reuters) – Pipeline operator South Bow said Monday it is keeping an eye on inclement weather before proceeding with a planned controlled restart of its Keystone oil pipeline system. The Calgary, Canada-based company had previously indicated it was targeting Tuesday for full service restoration on the Keystone pipeline, which has been shut down since last …
South Bow Watching Weather Before Proceeding With Keystone Pipeline Restart Read More »
Goldman Sachs expects oil prices to decline through the end of this year and next year because of the rising risk of a recession and higher supply from the OPEC+ group. The bank expects Brent and WTI oil prices to edge down, averaging $63 and $59 a barrel, respectively, for the remainder of 2025, and …
Goldman Sachs Expects Oil Prices to Decline Through 2026 Read More »
