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South Bow Watching Weather Before Proceeding With Keystone Pipeline Restart

Conventional Energy, Energy Topics & Technology, Latest, Oil, Pipelines, US News / By

(Reuters) – Pipeline operator South Bow said Monday it is keeping an eye on inclement weather before proceeding with a planned controlled restart of its Keystone oil pipeline system. The Calgary, Canada-based company had previously indicated it was targeting Tuesday for full service restoration on the Keystone pipeline, which has been shut down since last …

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Chevron-Chartered Vessel to Complete Oil Cargo Return in Venezuela, Data and Source Say

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(Reuters) – A vessel chartered by Chevron carrying some 500,000 barrels of Venezuelan oil is about to complete the discharge of the cargo at a Venezuelan port, according to shipping data and a source, following state company PDVSA’s order to return the crude amid payment uncertainty related to U.S. sanctions. At least nine tankers Chevron …

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Trump’s Energy Secretary Says Average Oil Prices Will Be Lower

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By Matthew Martin Energy prices are set to be lower under the current US administration than in the prior one, according to US Energy Secretary Chris Wright. “Under President Trump’s leadership in the next four years we’ll almost certainly see lower average energy prices than we saw in the last four years of the previous …

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EU Plan to End Russian Oil and Gas Imports Due Out in May

CDN and International News, Conventional Energy, Latest, Natural Gas, Oil / By

(Reuters) – The European Commission will announce a more detailed strategy to phase out Russian oil and gas imports next month, it said on Monday, after twice delaying the plan. The EU has pledged to quit Russian fossil fuels by 2027 in response to Moscow’s 2022 invasion of Ukraine, but the Commission has delayed publishing …

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South Bow Plans to Restart Keystone at Reduced Rates by Tuesday

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South Bow plans to restart the Keystone pipeline by Tuesday, April 15, the company said on Saturday, after it shut the key conduit for the flow of Canadian oil to the U.S. due to an oil spill in North Dakota. South Bow still needs written approval from the U.S. Pipeline and Hazardous Materials Safety Administration …

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Goldman Sachs Expects Oil Prices to Decline Through 2026

Conventional Energy, Energy Topics & Technology, Forecasts, Latest, Oil, US News / By

Goldman Sachs expects oil prices to decline through the end of this year and next year because of the rising risk of a recession and higher supply from the OPEC+ group. The bank expects Brent and WTI oil prices to edge down, averaging $63 and $59 a barrel, respectively, for the remainder of 2025, and …

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OPEC Cuts Global Oil Demand Growth Forecasts, Citing US Tariffs

CDN and International News, Conventional Energy, Latest, Oil / By

Summary • Cuts 2025, 2026 demand growth forecasts by 150,000 bpd each • First cut in 2025 forecast since December, OPEC data shows Kazakhstan further boosts production in March (Reuters) – OPEC cut its 2025 global oil demand growth forecast on Monday for the first time since December, citing the impact of data received for …

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Brent, WTI Prices Climb More $1 on Possible Iran Crude Restriction

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By Erwin Seba China imposes 125% tariff on US goods, escalating trade war EIA lowers global economic growth and oil demand forecasts April 11 (Reuters) – Brent and West Texas Intermediate crude climbed more than $1 on Friday after U.S. Energy Secretary Chris Wright said the United States could end Iran’s oil exports as part …

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US Oil Rig Count Falls by Most in a Week Since June 2023, Baker Hughes Says

Conventional Energy, Latest, LNG, Natural Gas, Oil, US News / By

By Scott Disavino April 11 (Reuters) – U.S. energy firms this week cut oil rigs by the most in a week since June 2023, lowering the total oil and natural gas rig count for a third consecutive week, energy services firm Baker Hughes (BKR.O) said in its closely followed report on Friday. The oil and …

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