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ConocoPhillips CEO Ryan Lance said on Tuesday at the CERAWeek energy conference in Houston that U.S. oil production will plateau later this decade and will stay on the plateau for some time. Reporting by Ron Bousso; Writing by Richard Valdmanis
(Reuters) – Mexico’s state oil company Pemex expects to continue diverting barrels of heavy crude away from U.S. Gulf Coast refiners as its new Olmeca refinery ramps up processing, the head of the company’s trading arm PMI, Margarita Perez, said on Tuesday. Pemex’s decision to prioritize refining over its traditional export markets began around six …
Mexico’s Pemex Prioritizes Refining as it Diverts Heavy Oil Away From Gulf Read More »
By Kevin Crowley Executives from some of the world’s top oil and gas producers offered full-throated support for President Donald Trump’s “Energy Dominance” on Monday, even as financial markets slumped on broader concerns about his economic agenda. The hallways and sessions on the first day of the annual CERAWeek by S&P Global conference in Houston …
Oil CEOs Back Trump’s Energy Agenda as Crude Hits Fresh Low Read More »
Executives embrace the administration’s tone at Houston’s CERAWeek conference — but views on prices may cause friction down the line. US Energy Secretary Chris Wright said he wants to reverse what he called a “very poor direction in energy policy.”Photographer: Aaron M. Sprecher/Bloomberg By Will Kennedy Welcome to our guide to the commodities markets powering …
Oil CEOs Celebrate Trump’s Pivot Back to Fossil Fuels Read More »
Global oil supply growth is outstripping demand, the CEO of one of the world’s largest oil traders, Gunvor, said on Monday. Oil prices hit a three-year low last week due to slow demand growth in China and concerns about the impact on global economic growth of U.S. President Donald Trump’s protectionist trade policies. “We still …
Global Oil Supply Growth is Outstripping Demand, Gunvor CEO Says Read More »
A new scramble for crude oil market share in Asia may be kicking off as top exporters Saudi Arabia and Russia move to boost cargoes to the world’s top importing region. China, the world’s biggest oil importer, is emerging as ground zero for the two exporters, who are ostensibly allies in the wider OPEC+ group …
Crude Oil Market Share Battle May be Kicking Off in Asia: Russell Read More »
Fatih Birol, the director of the Paris-based International Energy Agency, said on Monday there is a need for investment in oil and gas fields to support global energy security. The comment puts the energy watchdog for industrialized nations more in line with President Donald Trump’s pro-drilling agenda, after it came under pressure from fossil fuel …
IEA Chief Sees Need for Investments in Existing Oil, Gas Fields Read More »
BlackRock CEO Larry Fink said on Monday that inflation in the United States will be elevated by nationalistic policies, including the deportation of workers. The head of the U.S. investment management company, speaking at the CERAWeek conference in Houston, added that markets are discounting inflation and there will be further cost increases over the next …
BlackRock CEO Fink Says Nationalistic US Policies to Stoke Inflation Read More »
U.S. Energy Secretary Chris Wright said on Monday he was planning to work with Congress on cancelling previously mandated sales from the Strategic Petroleum Reserve as one way to address low stockpiles. Congress has mandated some 100 million barrels in sales from the reserve, the world’s largest emergency stockpile of crude oil, with a 7 …
Trump Administration Aims to Cancel Oil Reserve Sales, Support Small Nuclear Power Read More »
(Reuters) – U.S. Energy Secretary Chris Wright said on Monday that he was pleased with OPEC actions and had no specific requests of the Saudi Arabia-led oil producers group. He said he was happy OPEC was returning barrels to the marketplace and said that more energy was good for the globe. Wright, speaking to reporters …
US Energy Secretary Pleased with OPEC Actions So Far Read More »
