Oil Price Gasoline demand is going through a seasonal slack-off, AAA data said in a note on Tuesday, with short days and icky weather keeping drivers at home. U.S. retail gasoline prices are on the rise despite the demand slump, with the national average rising 5.7 cents since last week to $3.327 per gallon. Gasoline demand normally slacks off this
Nasdaq Freeport LNG’s long-shut export plant in Texas started receiving natural gas from pipelines over the long U.S. Martin Luther King Jr holiday weekend, according to data from Refinitiv, a possible sign the plant is finally moving closer to exiting an outage. Gas started flowing to Freeport on Jan. 14 and was on track to reach 69 million cubic
Oil Price The Organization of the Petroleum Exporting Countries increased its December production, according to the most recent Monthly Oil Market Report published on Tuesday. OPEC-13’s average December production rose by 91,000 barrels per day, according to the MOMR, to 28.971 million bpd, with nearly all of the gains coming from Nigeria. Nigeria’s crude oil production rose by 91,000
Jan. 17 (UPI) — Economists at the Organization of the Petroleum Exporting Countries on Tuesday…
Jan. 17 (UPI) — Economists at the Organization of the Petroleum Exporting Countries on Tuesday…
World Oil (Bloomberg) — OPEC expects global oil supply and demand to be in balance in the first quarter. Its top official said he’s “cautiously optimistic” about the economic outlook. The Organization of Petroleum Exporting Countries will need to provide an average of 28.85 million bpd in the first three months of the year, roughly 120,000 bpd less than
Oil Price The Nord Stream pipeline can be repaired within a year, but it’s unclear whether Germany would want to receive Russian natural gas at all, said Klaus-Dieter Maubach, the outgoing CEO at German energy giant Uniper, which was Russia’s top gas customer before Moscow cut off supply via Nord Stream. “The first question that needs answering: what’s the
BOE Report Top energy firms are expected to rake in a combined record profit of $200 billion from a turbulent 2022 marked by huge volatility in oil and gas prices after Russia’s invasion of Ukraine with buoyant earnings likely to roll through 2023. Flush with cash, BP, Chevron, Exxon Mobil, Shell and TotalEnergies also delivered shareholders unprecedented returns through dividends and share buybacks
