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(Reuters) – The marginal cost of producing U.S. shale oil will rise by as much as $15 a barrel to $95 a barrel in about 10 years, energy analytics firm Enverus said on Tuesday, as stagnating production pushes companies to drill in locations with fewer proven resources. On average, it costs roughly $70 a barrel …
US Shale Oil Costs to Rise to $95/bbl by Mid-2030s, Analytics Firm Enverus Says Read More »
By Ellen Milligan and Kate Sullivan US President Donald Trump scolded the UK for its green-energy push in a roughly hour-long speech at the United Nations in which he criticized many of America’s closest allies. Trump, who visited the UK for a state visit just last week, denounced Prime Minister Keir Starmer’s attempt to diversify …
Trump Takes Aim at UK’s ‘Suicidal’ Push Away From North Sea Oil Read More »
(Reuters) – Oil production in North Dakota rose 2,000 barrels-per-day (bpd) to 1,161,000 bpd in July, monthly data from the state Industrial Commission showed. Bakken and Three Forks oil production stood at 1,132,000 bpd in the month. The data was released on the North Dakota Industrial Commission’s general statistics webpage and has been rounded to …
(Reuters) – U.S. President Donald Trump said on Tuesday he plans to call Hungarian Prime Minister Viktor Orbán to urge him to stop purchasing Russian oil, part of a broader push to pressure NATO allies to cut energy ties with Moscow. “He’s a friend of mine. I have not spoken to him, but I have …
Trump Says He Will Call Orbán to Urge End to Russian Oil Imports Read More »
The arbitrage window to ship U.S. West Texas Intermediate crude to Asia has narrowed as tanker freight rates surge, while strong export demand pushes up premiums for the grade to multi-month highs, trade sources said on Tuesday. The U.S.-Asia arbitrage, which opened in late July, spurred demand for Very Large Crude Carriers (VLCCs) to embark …
Surge in Shipping Costs, WTI Premiums Threaten to Shut US-Asia Oil Arbitrage Read More »
U.S. is applying pressure to lenders to drop restrictions on projects contributing to climate change Financial Times Attracta Mooney in London and Aime Williams in Washington Donald Trump’s administration is pressuring the World Bank to fund more fossil fuel projects, The U.S. president, who has promised to unleash American fossil fuels and has railed against green energy, has torn …
Trump Pushes World Bank to Finance More Fossil Fuel Development Read More »
The Trump administration is stepping into the legal fight over whether Enbridge can continue to operate an aging pipeline beneath a Great Lakes channel, arguing that Michigan Gov. Gretchen Whitmer interfered with U.S. foreign policy when she revoked the line’s easement almost five years ago. The pipeline, known as Line 5, has moved crude oil …
(Reuters) – Ukraine’s military struck two Russian oil distribution facilities in the Bryansk and Samara regions overnight, Kyiv’s general staff said on Tuesday. In Samara, the military hit a line production station that mixes Russian oil for its flagship Urals oil grade for export, the general staff said on Telegram. In Bryansk, it hit a …
Ukraine Says it Hit Russian Oil Infrastructure in Bryansk, Samara Regions Read More »
(Reuters) – Saudi Arabia’s crude oil exports in July hit their lowest level in four months, according to data from the Joint Organizations Data Initiative (JODI) released on Monday. Crude exports from the world’s largest oil exporter fell to 5.994 million barrels per day, from 6.141 million bpd in June, its lowest level since March …
Saudi Arabia Crude Exports Fall to Four-Month Low in July Read More »
Summary Estonia accuses Russia of violating its air space Four Western nations recognise Palestinian state Iraq increases oil exports after OPEC+ relaxes quota (Reuters) – Oil prices were little changed on Monday as concerns over Russia and the Middle East were countered by oversupply jitters. Brent crude oil futures , which have traded between around …
Oil Prices Little Changed as Russia, Mideast Concerns Offset by Oversupply Worry Read More »
