Thursday, July 31, 2025
Column: Shrinking U.S. oil stocks point to market rebalancing - Kemp- oil and gas 360

Column: Shrinking U.S. oil stocks point to market rebalancing – Kemp

Reuters LONDON  – Excess petroleum inventories are being absorbed as lower prices compel U.S. shale producers and the members of OPEC+ to limit their output, confirming the market is on course to rebalance in 2021. In the United States, total stocks of crude oil and petroleum products have fallen in 10 out of the last 11 weeks, according to data

OPEC cuts long-term forecast for oil demand growth, sees ‘continued disparity’ in climate policy- oil and gas 360

OPEC cuts long-term forecast for oil demand growth, sees ‘continued disparity’ in climate policy

CNBC LONDON — OPEC on Thursday said it had downwardly revised its forecast for global oil demand growth over the long term, given the industry faced “an existential threat” this year in the wake of the coronavirus pandemic and as climate policies continue to shape the future of energy. In its closely-watched annual World Oil Outlook, the Middle East-dominated group of oil

Hurricane Delta steams across Gulf of Mexico, halting 80% of oil output- oil and gas 360

Hurricane Delta steams across Gulf of Mexico, halting 80% of oil output

Reuters HOUSTON – Hurricane Delta raked across the prime U.S. offshore oil producing areas in the Gulf of Mexico on Thursday as energy companies pulled workers from offshore platforms and began securing coastal processing plants. The storm was about 400 miles (645 km) south of Cameron, Louisiana, and grinding toward the Louisiana coast at 14 miles per hour (22 kmh).