(Oil & Gas 360) – Supply Expectations High And Demand Expectations Low, Running Counter To U.S. Supply Demand Data Have The Consensus Set UP To Be Caught Short. The price of WTI crude oil back below $60 reflects much fear plus news that OPEC+ will increase production. The Organization of Petroleum Exporting Countries (OPEC), + other world exporters announcing Monday, that
(Oil & Gas 360) – Over the past few weeks, several headlines regarding the international oil business have surprised market watchers: A note on the news: “Break-even” oil prices- oil and gas 360 The news that the OPEC+ group decided to increase its production rate in May by 411,000 barrels a day (b/d). The Trump Administration decision to
(Oil Price) – Paul Singer’s Elliott Management is kicking the tires on a deal that would have been unthinkable just a few years ago: buying a stake in a pipeline that carries Russian natural gas into Europe. The pipeline in question is the Bulgarian extension of TurkStream—Russia’s last functioning gas artery to the continent. With the rest of its gas empire
(Oil Price) – Canada’s pipeline giant Enbridge Inc. reported on Friday record quarterly earnings for the first quarter of the year as it moved a record-high volume of liquids on its huge Mainline pipeline system in North America. The company booked adjusted earnings of US$1.58 billion (C$2.2 billion), or US$0.74 (C$1.03) per common share, for the first quarter, up from US$1.44 billion
This week’s Baker Hughes Rig Count shows that the U.S. decreased by 6 over last week, resulting in a total count of 578 rigs. Canada had a decrease of 6 over last week, resulting in a total Canadian count of 114 rigs. Breakdown by region Of the regions tracked by Baker Hughes, only the Granite Wash region experienced an increase
(World Oil) – A federal jury in the Southern District of Texas has ruled in favor of Marathon Oil Company in a high-stakes natural gas trading dispute stemming from Winter Storm Uri. The jury rejected a $123.7 million breach-of-contract counterclaim filed by Koch Energy Services, siding instead with Marathon’s force majeure defense related to deliveries during the historic February 2021 storm.
(Investing) – Oil prices rose Friday, heading for weekly gains on optimism over a potential deescalation in U.S. President Donald Trump’s tariff agenda. At 08:40 ET (12:40 GMT), Brent oil futures rose 1.9% to $64.05 a barrel, while West Texas Intermediate crude futures rose 2.1% to $61.17 a barrel. On the week, both contracts were on track to rise more than 4%. Oil buoyed by
