(Reuters) – OPEC does not see a peak in oil demand in its long-term forecast and expects demand to grow to 116 million barrels a day by 2045, and may be higher, the secretary general said on Thursday. The International Energy Agency said in a report on Wednesday it sees oil demand peaking by 2029, levelling off …
OPEC Sees No Peak Oil Demand Long Term, Secretary General Says Read More »
(Reuters) – Oil prices were stable on Friday and on course for their best week in more than two months after solid projections for crude oil and fuel demand. Brent crude futures were down 19 cents, or 0.23%, at $82.56 a barrel by 1003 GMT. West Texas Intermediate (WTI) U.S. crude futures lost 32 cents, …
Oil Prices Set for Best Week in Two Months on Demand Outlook Read More »
U.S. oil refineries have been processing petroleum at the fastest rate for the time of year since before the pandemic, but rising fuel inventories have begun to weigh on crack spreads and likely signal a slowdown ahead. Refineries processed 17.5 million barrels per day (b/d) of crude and other feedstocks over the week ending on …
U.S. Refining Margins Slump as Fuel Stocks Climb: John Kemp Read More »
Noble Corp.’s $1.6 billion acquisition of Diamond Offshore Drilling may seem like small potatoes compared to the upstream sectors’ massive megadeals, but service sector consolidation could snowball, analysts said.
The subsea contract follows Trendsetter establishing local facilities in Brazil.
Higher world oil production, led by U.S. and other producers in the Americas, will outpace demand between 2023-2030 and inflate the world’s spare capacity cushion, according to the IEA.
Electricity demand needs reliable natural gas to function as coal capacity is retired and less reliable renewables take a greater share of the power supply stack.
Critics claim the vote sets a precedent for more unsupervised development of gas-fired generation.
Surge is holding out liquidity for growth in the Midland Basin, said Linhua Guan, CEO of Surge Energy America, at Hart Energy’s SUPER DUG Conference.
Crescent Energy intends to use the proceeds to fund the cash portion of its merger with SilverBow Resources and to repay SilverBow’s outstanding debt at the time of the transaction’s closing.
