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Summary Brent, WTI post highest weekly increase since April U.S. consumer sentiment deteriorated to seven-month low in June EIA upgraded oil demand growth estimates for 2024 slightly U.S. oil rig count hits the lowest since January 2022 NEW YORK, June 14 (Reuters) – Oil futures prices settled slightly lower on Friday after a survey showed …
Oil Dips, but Posts Weekly Gain on Solid 2024 Demand Outlook Read More »
(Reuters) – Oil prices were stable on Friday and on course for their best week in more than two months after solid projections for crude oil and fuel demand. Brent crude futures were down 19 cents, or 0.23%, at $82.56 a barrel by 1003 GMT. West Texas Intermediate (WTI) U.S. crude futures lost 32 cents, …
Oil Prices Set for Best Week in Two Months on Demand Outlook Read More »
The nation’s largest oil trade group, which includes Exxon Mobil and Chevron, will file a federal lawsuit on Thursday seeking to block the Biden administration’s efforts to reduce planet-warming emissions from cars and light trucks and encourage electric vehicle manufacturing, the group said. The U.S. Environmental Protection Agency issued new tailpipe emission rules in March that will force …
Largest U.S. Oil Trade Group to Sue to Block Biden’s EV Push Read More »
Summary The two industry outsiders upending LNG markets Venture Global LNG has shot up the ranks of gas exporters Customers BP, Shell say the pair flout industry norms HOUSTON, June 11 (Reuters) – U.S. liquefied natural gas (LNG) exporter Venture Global LNG this year became one of the country’s largest producers of the superchilled gas …
The Duo Atop the Biggest and Most Contentious U.S. LNG Exporter Read More »
(Reuters) – U.S. oil and gas producer Devon Energy has lost bids to acquire at least three of its peers in the last 12 months because its shares were spurned as acquisition currency, according to people familiar with the negotiations. Devon missed out on the sector’s dealmaking boom by losing to ConocoPhillipsthe $22 billion deal to …
How Devon Energy Missed Out on the U.S. Oil and Gas Mega-Deal Wave Read More »
Summary OPEC+ prolongs some cuts by one year OPEC+ to phase out other cuts very slowly Group faces rising oil stocks, tepid demand growth (Reuters) – OPEC+ agreed on Sunday to extend most of its deep oil output cuts well into 2025 as the group seeks to shore up the market amid tepid demand growth, …
OPEC+ Extends Deep Oil Production Cuts into 2025 Read More »
(Reuters) – U.S. oil drillers are sticking to pledges to temper spending on boosting output, keeping the world’s top crude producer on course for slower growth in 2024 in what may ease pressure on OPEC+ to make further supply cuts this weekend. The U.S. has driven growth in global oil supply from non-OPEC producers over …
U.S. Oil Producers Maintain Modest Growth as OPEC+ Eyes Extended Cuts Read More »
Pipeline operator Energy Transfer said on Tuesday it would buy WTG Midstream Holdings in a deal valued at about $3.25 billion as the pipeline operator looks to expand its gas transportation and processing network in the Permian Basin. It would acquire WTG from affiliates of Stonepeak, the Davis Estate and Diamondback Energy. The deal will …
Energy Transfer to Buy WTG Midstream in $3.25 Billion Deal Read More »
A 63% spike in U.S. natural gas futures prices over the past three weeks was enough to push some drillers to start pulling more fuel out of the ground, according to energy analysts and data from financial firm LSEG. To be sure, gas production was still down around 8% so far this year after several …
U.S. Natgas Price Spike Prompts Drillers to Return to Wellpad in May Read More »
The main oil company of the United Arab Emirates bought a stake in NextDecade Corp.’s natural gas export project in Texas, its first acquisition in the US that will also give it supply from the plant for 20 years. Abu Dhabi National Oil Co. will take a 11.7% stake in phase 1 of the Rio Grande …
Adnoc Buys Stake in NextDecade’s LNG Project in First U.S. M&A Read More »
