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Mexico Weighs Increasing Fracking to Reduce Reliance on US Gas, FT Reports

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

Mexico has been speaking to private sector companies about increasing fracking to reduce its reliance on U.S. gas amid heightened trade tensions between the two countries, the Financial Times reported on Tuesday. Imports, which are almost entirely from the United States, meet 72% of the total demand for natural gas consumed in Mexico. Any policy …

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Goldman Sachs Forecasts Brent, WTI Prices Under Different Scenarios

Conventional Energy, Latest, Oil, US News / By

(Reuters) – Goldman Sachs forecast that Brent and WTI crude prices would be at $62 a barrel and $58 by December 2025 and at $55 and $51 by December 2026, respectively, under two assumptions. The bank, in a note dated April 7, said that the first assumption is the U.S. economy avoids a recession given …

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How the Oil Price Plunge Complicates Saudi Arabia’s Economic Agenda

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

Summary • Benchmark Brent crude oil has neared four-year lows • Oil revenue made up 62% of state budget last year • Kingdom and sovereign fund need more debt, analysts say • Oil giant Aramco, long-time cash cow, slashing 2025 dividends DUBAI, April 8 (Reuters) – Saudi Arabia, with its wealth linked inextricably to oil …

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US Energy Chief Chris Wright Heads to Middle East for Nearly Two weeks

Conventional Energy, Latest, LNG, Oil, Pinned Primary, US News / By

U.S. Energy Secretary Chris Wright on Wednesday will launch a nearly two-week tour of three Middle East countries, including Saudi Arabia, marking his first visit as a U.S. official to the de facto leader of the OPEC oil producer group, a source familiar with the matter told Reuters. The trip, which will also include visits …

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Oil Boss Says Trump Administration Better Have a Plan Amid Rout

Conventional Energy, Latest, Oil, US News / By

By David Wethe A top executive at Diamondback Energy Inc. called on President Donald Trump’s administration to explain how the global trade war will help shale producers, a rare instance of public pushback from a US oil boss. “This administration better have a plan @SecretaryWright,” Kaes Van’t Hof, president of Diamondback, said April 6 in …

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US EIA Delays Short-Term Outlook Report Amid Oil Market Downturn

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

By Shariq Khan NEW YORK, April 7 (Reuters) – The U.S. Energy Information Administration said on Monday it is delaying publication of the “Short-Term Energy Outlook” (STEO) report, amid a plunge in oil prices to near four-year lows over growing concerns of a global recession. The report, scheduled for Tuesday, April 8, will now be …

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Canada’s Conservative Leader Poilievre Will Bring in ‘One and Done’ Resource Approvals, Accelerate Ten Specific Resource Projects Including the Approval of LNG Canada Phase II

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

Poilievre also announces he will approve LNG Canada’s Phase II, plus at least 9 other projects that are waiting for the go-ahead. Terrace, BC – Conservative Leader Pierre Poilievre announced that he will create a new ‘One and Done’ rule for resource projects: a one-stop shop, with one simple application and one environmental review. Poilievre also announced …

Canada’s Conservative Leader Poilievre Will Bring in ‘One and Done’ Resource Approvals, Accelerate Ten Specific Resource Projects Including the Approval of LNG Canada Phase II Read More »

As Oil Plunges, Kremlin Sees a Global Economic Storm

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(Reuters) – The Kremlin said on Monday that Russia would do everything necessary to insulate the world’s second largest crude exporter from a global “economic storm” which has sown extreme turbulence in oil markets and raised concerns of a recession. Brent futures fell $1.61, or 2.5%, to $63.97 per barrel, and have fallen 15% over …

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OPEC March Oil Output Falls on Venezuela, Iran Losses Amid Sanctions

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, OPEC / By

(Reuters) – OPEC oil output fell in March ahead of a scheduled output hike, a Reuters survey found, as Nigeria curbed deliveries to domestic refineries and Iranian and Venezuelan supply dropped on renewed U.S. attempts to curb the flows. The Organization of the Petroleum Exporting Countries pumped 26.63 million barrels per day last month, down …

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