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OPEC has enough spare oil capacity to compensate for a full loss of Iranian supply if Israel knocks out that country’s facilities but the producer group would struggle if Iran retaliates by hitting installations of its Gulf neighbours. Iran fired hundreds of missiles at Israel on Tuesday in response to Israeli airstrikes and attacks. Israel’s …
OPEC+ Could Cushion Iran Oil Shock But Not Broader Disruption Read More »
The oil industry and markets have had a muted reaction to growing conflict in the Middle East, a sign of just how well stocked oil supplies are as U.S. output grows and OPEC+ prepares to lift production. The global oil benchmark Brent jumped 5% on Tuesday after Iran, a key producer and member of the …
Plentiful Oil Supply Dampens Industry Reaction to Growing Middle East Conflict Read More »
U.S. crude oil inventories rose last week as refinery utilization rates fell amid weakening fuel demand, data from the Energy Information Administration showed on Wednesday. Crude inventories rose by 3.9 million barrels to 417 million barrels in the week ended Sept. 27, the EIA said. Crude stocks at the Cushing, Oklahoma, delivery hub rose by …
U.S. Crude Oil Inventories Rise as Refining Activity Dips, EIA Says Read More »
Oilfield-service costs for US shale drillers are expected to rebound in 2025, clawing back some of this year’s drop, as explorers expand the hunt for natural gas and extend sideways wells, according to industry consultant Enverus. This year’s reduction in drilling and fracking, combined with the push to max out efficiencies, are seen lowering per-well …
Shale-Production Costs Seen Rising 2.8% in 2025, Enverus Says Read More »
(Reuters) – Final investment decisions for hydrogen projects have doubled over the last 12 months, dominated by China, but installed capacity and demand are low as the industry faces uncertainty, the International Energy Agency (IEA) said in a report on Wednesday. The investment decisions represent a five-fold increase of current low-emission hydrogen production by 2030, …
Hydrogen Project Investments are Accelerating but Uncertainty Remains, IEA Says Read More »
(Reuters) – U.S. shale producer Diamondback Energy raised its third-quarter production forecast on Tuesday to reflect its $26 billion acquisition of Endeavor Energy. The Texas-based company completed its acquisition of Endeavor Energy last month, making it the third-largest oil and gas producer in the top U.S. shale region, the Permian Basin, putting it just behind industry giants Exxon …
Diamondback Energy Raises Third-Quarter Production Forecast Read More »
Summary Minister makes comments hours before OPEC+ committee meets Says many moving factors in short term including geopolitics Comments echo those of Russia’s Novak on Monday Says OPEC+ sacrificed more than other producers (Reuters) – United Arab Emirates Energy Minister Suhail al-Mazrouei said on Wednesday OPEC+ was doing a noble job of balancing the oil …
OPEC+ Doing ‘Noble’ Job of Balancing Oil Market, Says UAE Read More »
Summary OPEC+ joint ministerial monitoring committee meets on Wednesday Unlikely to change production agreement, two sources say Compliance with cuts by Iraq and Kazakhstan under scrutiny (Reuters) – An OPEC+ ministerial panel scheduled to meet on Wednesday is unlikely to recommend any changes to policy, allowing the group to start gradually increasing production from December, …
OPEC+ Set to Keep Output Policy Unchanged at Panel Meeting Read More »
Pipeline is moving about 0.3 bcf per day into Transco Permian has long struggled with not enough pipeline capacity Matterhorn Express Pipeline has begun transporting natural gas into Williams Cos.’s Transco pipeline, a long-awaited addition to midstream infrastructure serving the Permian Basin. Matterhorn is moving about 0.3 billion cubic feet per day into Transco, an established pipeline …
Permian Gas Starts Flowing on Matterhorn Pipeline in Texas Read More »
The U.S. Federal Trade Commission allowed Chevron’s $53 billion purchase of Hess Corp on Monday, in an order that barred Hess CEO John Hess from Chevron’s board. The FTC’s order leaves Exxon Mobil’s challenge to the deal, which is expected to stretch deep into next year, as its final hurdle. The proposed merger included a Chevron …
FTC Allows Chevron-Hess Deal, Bars John Hess From Board Read More »
