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The U.S. is seeking to buy up to 6 million barrels of oil to help replenish the Strategic Petroleum Reserve after a historic sale from the facility in 2022, the Energy Department said on Wednesday. Reuters reported exclusively this week that the solicitation would take place on Wednesday as the administration of President Joe Biden …
U.S. Seeks Up to 6 Million Barrels of Oil for Strategic Reserve Read More »
U.S. crude stocks fell while gasoline and distillate inventories rose in the week ending September 13, the Energy Information Administration (EIA) said on Wednesday. Crude inventories fell by 1.6 million barrels to 417.5 million barrels in the week, the EIA said, compared with analysts’ expectations in a Reuters poll for a 500,000-barrel draw. Crude stocks …
US Crude Stocks Fall, Gasoline and Distillate Inventories Rise – EIA Read More »
Democratic nominee no longer wants to ban the practice Pennsylvania is big fracking state that looms large in US race Bill McKibben speaking at Upstate Films in Rhinebeck.Photographer: Anne Riley Moffat/Bloomberg Progressive Americans unhappy with Vice President Kamala Harris’ about-face on fracking need to ease up, said environmentalist Bill McKibben. “Look, it doesn’t make me happy, but …
Progressives Should Cut Harris Slack on Fracking, Says Environmentalist Read More »
Energy Department enacted gas terminal moratorium in January Shale boom transformed US into world’s biggest LNG exporter The oil and gas industry is zeroing in on the Biden administration’s moratorium on new liquefied natural gas export permits as the key policy they want changed under the next US president. Chevron Corp. Chief Executive Officer Mike Wirth called on …
Chevron CEO Attacks Biden LNG Export Pause on Costs, Carbon Read More »
Fracking site near Midland, Texas, U.S. August 22, 2019. Picture taken August 22, 2019. REUTERS/Jessica Lutz/File Photo (Reuters) – U.S. Vice President Kamala Harris understands natural gas prices will rise if fracking is banned, industry executives said on Tuesday, explaining their confidence that the Democratic candidate will not ban the production method if she becomes …
Harris Understands Fracking Ban Raises Energy Costs, Industry Execs Say Read More »
The new path to market for Permian Basin shale gas could could foil oil producers’ plan to curb output. By Javier Blas Now is the moment when common sense says the US shale industry should be slowing. With oil prices plunging 25% over the last year, you’d expect companies would surely react by cutting drilling. …
UBS cut its oil price forecasts for 2024, citing a weaker global demand outlook especially driven by a slowing Chinese economy. It lowered its price view for both Brent and WTI by $4 to $80 per barrel and $76 per barrel respectively. “The key downside risks would be a recession, which would in turn raise …
UBS Cuts Oil Price View for 2024 on Weak Demand Outlook Read More »
There are alternative sources of energy for coal, gas and oil, but there are few substitutes for polymers. By David Fickling David Fickling is a Bloomberg Opinion columnist covering climate change and energy. Previously, he worked for Bloomberg News, the Wall Street Journal and the Financial Times. Could our unshakeable addiction to plastics be broken? …
A Dose of Reality: Breaking Our Plastics Habit Is Easier Said Than Done Read More »
Summary Offline capacity in Gulf of Mexico still supports prices Markets await decision on Fed rate cut Poor August data stokes China demand worries (Reuters) – Oil prices stabilized on Monday as ongoing disruption to U.S. Gulf oil infrastructure balanced persistent demand concerns after a fresh round of Chinese data while investors await news on …
Oil Prices Stabilize Ahead of Fed Interest Rate Decision Read More »
Summary Brent and WTI both set for weekly gains US offshore oil industry reawakens after Francine shut-ins US oil and gas rig count rises by most in a year Benchmarks hit multi-year lows this week on demand fears (Reuters) – Oil prices fell on Friday as U.S. Gulf of Mexico crude production resumed following Hurricane …
Oil Eases on Resuming U.S. Output After Storm, Rising Rig Count Read More »
