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 »
The Canadian government has guaranteed another C$1 billion ($731 million) in commercial loans for the Trans Mountain pipeline expansion, taking the total government-backed loan facility to C$19 billion, Trans Mountain’s quarterly earnings statement showed on Thursday. The expansion project, which has so far cost C$34 billion, nearly triples capacity to ship oil from Alberta to …
Canada Increases Loan Guarantees for Trans Mountain to C$19 Billion 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 »
ConocoPhillips’ recent $17.1 billion deal to acquire Marathon Oil came after the company missed out on buying CrownRock and Endeavor, two companies Devon Energy took a hard look at, Moelis’ Stephen Trauber said.
Saudi Arabia’s government is planning to sell a new stake in state oil giant Aramco that could raise as much as $13.1 billion, a landmark deal to help diversify the economy.
The energy exporting facility will be developed on Ridley Island, British Colombia, on a 190-acre site adjacent to AltaGas and Vopak’s existing propane exporting terminal.
VAALCO Energy drilled four 2.75-miles wells, apparently in the Western Canadian Sedimentary Basin.
After a long permitting process, PGS has secured the last permit needed to begin its large 4D survey contract with Petrobras at the Barracuda-Caratinga field offshore Brazil.
