Wednesday, May 7, 2025
Goldman Sachs: Oil prices to hit $105 on solid demand growth- oil and gas 360

Goldman Sachs: Oil prices to hit $105 on solid demand growth

Oil Price Solid growth in global oil demand is set to drive oil prices to above $100 this year and Brent Crude could trade at $105 per barrel by the fourth quarter, according to Goldman Sachs.   World oil demand is set to increase by 2.7 million barrels per day (bpd) in 2023 and the market would return to deficit in the

Washington has trouble refilling the SPR after 220 million barrel draw- oil and gas 360

Washington has trouble refilling the SPR after 220 million barrel draw

Oil Price After drawing over 221 million barrels of oil from the Strategic Petroleum Reserve (SPR) in 2022, Washington is having a tough time refilling it in the New Year, with the Department of Energy (DoE) rejecting the first offers on the grounds that they failed to benefit taxpayers.   The DoE has by now received several offers for February purchases to

PureWest issues request for proposals for the purchase of certified natural gas and associated digital tokens- oil and gas 360

PureWest issues request for proposals for the purchase of certified natural gas and associated digital tokens

Oil and Gas 360 Digital tokens may be used to reduce buyers’ scope 3 emissions DENVER, Jan. 10, 2023 /PRNewswire/ — PureWest Energy, LLC (“PureWest”), an independent natural gas company based in Wyoming’s Green River Basin, today announced a request for proposals (RFP) for the purchase of low-methane, freshwater-friendly certified natural gas. Buyers will also receive blockchain-based Certified Environmental Tokens™ (CETs) containing the environmental attributes associated

Judge dismisses lawsuit about big oil conspiracy- oil ad gas 360

Judge dismisses lawsuit about big oil conspiracy

Oil Price A federal judge has dismissed a lawsuit brought to a California court last year by a group of individuals claiming the Trump administration and U.S. oil producers colluded with Russia and Saudi Arabia to keep oil and gasoline prices high.   Defendants named in the lawsuit included the American Petroleum Institute, Chevron, Exxon, Occidental Petroleum, Phillips 66, and Energy Transfer. The plaintiffs—about

Barclays sees $15-25/bbl downside to its oil view if slowdown worsens- oil and gas 360

Barclays sees $15-25/bbl downside to its oil view if slowdown worsens

Investing Barclays said on Tuesday it remained “constructive” on oil prices, but cautioned that a worsening in global manufacturing activity could pose a downside risk to its current $98 per barrel Brent price forecast for 2023.   “Given the challenging macroeconomic backdrop (we) highlight $15-25/barrel of downside to our forecast if the slump in global manufacturing activity worsens similar to