Oil Price Supply of nickel deliverable to the London Metal Exchange could jump next year by 35% compared to 2022 levels as new plants for nickel processing in China and Indonesia could cause a glut and crash prices, analysts at Macquarie Group say. The new plants in Asia would process growing volumes of intermediate nickel products into LME-deliverable nickel metal,
World Oil WASHINGTON — The American Petroleum Institute (API) released new polling conducted by Morning Consult showing that 90% of voters agree that natural gas and oil play an important role in strengthening the U.S. economy. The polling further shows that an overwhelming majority of voters believe lawmakers should consider the economic importance of these resources when assessing new energy
Oil Price The current moves of OPEC+ to cut oil production are enough to support the market, Suhail al-Mazrouei, the energy minister of the United Arab Emirates (UAE), told Reuters on Friday. The actions the OPEC+ group has taken so far are sufficient, according to the OPEC heavyweight the UAE. “What we are doing is sufficient as we say today,” al-Mazrouei
Oil Price The biggest oilfield services firm in the world, SLB (NYSE: SLB), reported on Friday higher-than-expected earnings for the second quarter thanks to higher offshore drilling activity and a rebound in the international markets. SLB’s earnings per share for the second quarter rose by 11% sequentially and by 7% year on year, to $0.72, beating the analyst consensus
Oil and Gas 360 This week’s Baker Hughes Rig Count shows that U.S. had a decrease of 6 over last week, resulting in a total count of 669 rigs. Canada had no change over last week, resulting in a total Canadian count of 187 rigs. Breakdown by region Of the regions tracked by Baker Hughes, no regions experienced an increase
World Oil WASHINGTON — The American Petroleum Responsible development of federal lands is critical for meeting the growing demand for affordable, reliable energy while reducing emissions. Amidst a global energy crisis, this action from the Department of the Interior is yet another attempt to add even more barriers to future energy production, increases uncertainty for producers and may further discourage
2023-07-21 08:46:43 ET The energy sector’s long-term prospects shine brightly, propelled …
