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US Crude Stocks Fall, Fuel Inventories Rise on Robust Refining, EIA Says

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(Reuters) – U.S. crude inventories fell for the third time in a row, while fuel stockpiles rose in the week ending December 6, the Energy Information Administration (EIA) said on Wednesday, as refinery activity remained seasonally strong. Crude inventories fell by 1.4 million barrels to 422 million barrels, the EIA said, compared with analysts’ expectations …

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Chevron Working on Supply of Power to Data Centers, Executive Says

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U.S. oil major Chevron Corp is considering ways to supply lower carbon power for data center operators, Jeff Gustavson, president of Chevron New Energies said in an interview at the Reuters NEXT conference in New York. Gustavson’s comments follow a similar announcement by Exxon Mobil on Wednesday, which said it is working to help advance …

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OPEC Gives Haitham Al-Ghais Second Term as Secretary-General

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, OPEC / By

Kuwaiti’s tenure as OPEC’s top official extended to mid-2028 OPEC+ delayed output restart last week to defend oil prices OPEC appointed Haitham Al-Ghais for a second three-year term as its secretary-general, extending his tenure until mid-2028. The Kuwaiti oil executive has been the top official at the Organization of Petroleum Exporting Countries since mid-2022. OPEC and its allies agreed …

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OPEC Makes Deepest Cut Yet to 2024 World Oil Demand Forecast

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Group makes fifth reduction to estimate amid signs of weakness Alliance agreed last week to delay, slow revival in its output OPEC cut oil demand growth forecasts for this year and next for a fifth straight month, making its deepest reduction to the 2024 outlook so far after agreeing to extend its supply curbs. The Organization …

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Gassier But Cleaner US Power System Hits New Output Record in 2024

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(Reuters) – U.S. power producers have raised total generation to new highs in 2024, fuelled mainly by record natural gas-fired output alongside a sharp jump in generation from renewable sources. Natural gas plants remain the key pillar of U.S. generation, accounting for a record 42% of total power production from January through November, according to …

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US Average Gasoline Price Drops Below $3 a Gallon for the First Time Since 2021

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(Reuters) – Average U.S. gasoline prices fell below $3 a gallon for the first time in over three years on Monday, extending a run of bargains at the pump for consumers who have faced soaring inflation in recent years. Fuel prices have been declining steadily since the end of the peak summer driving season, helping boost …

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Oilfield Service Companies Add More Jobs in November, Trade Group Says

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Oilfield service companies ramped up hiring in November, adding 1,890 jobs in the sector, according to data from trade group Energy Workforce & Technology Council released on Monday. WHY IT’S IMPORTANT Oilfield service hiring can serve as an indicator of the health of the sector. Companies bringing on more employees could imply more drilling to …

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U.S. AI Task force Co-Chair Asks FERC to Support Co-Located Data Centers – Letter

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A co-chair of the U.S. Congressional artificial intelligence task force urged federal energy regulators this week to support the development of data centers directly connected to power plants, citing national security and competition for global AI dominance, according to a letter seen by Reuters dated Dec. 5. U.S. Congressman Jay Obernolte said the Federal Energy …

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Oilfield Services Provider Flowco Files for U.S. IPO

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Oilfield services provider Flowco Holdings said on Friday it has filed for a U.S. initial public offering, the latest to capitalize on the recent revival in investor appetite for newly listed stocks. The U.S. IPO market, which had largely avoided large deals for nearly three years, is experiencing a revival as improving investor sentiment and …

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