January 22, 2026 – Oil & Gas 360

Trump could offer deals to U.S. states to store nuclear waste

January 22, 2026

(Oil Price) – The Trump Administration plans to offer U.S. states incentives for building nuclear reactors in exchange for agreeing to store nuclear waste, a source familiar with the matter told Reuters on Thursday. However, a spokesperson for the U.S. Energy Department told Reuters that the story was “false” and that “no decisions have been made at this time,” after POLITICO first reported on the

U.S. establishes fund to control all Venezuelan oil revenue

January 22, 2026

(Oil Price) – U.S. President Donald Trump supervises the release of funds from sales of Venezuela’s oil, an official at the U.S. Administration told Semafor on Thursday. Following the capture of Venezuelan leader Nicolas Maduro early this month, President Trump moved to create a fund to hold revenues from sales of Venezuela’s oil. The money is being held in U.S. accounts and released at the

US energy secretary calls for doubling global oil output in Davos

January 22, 2026

(BOE Report) – The world needs to more than double oil production, U.S. Energy Secretary Chris Wright said on Thursday, while criticising the European Union and the U.S. state of California for wasting money on what he described as inefficient green energy. In recent years, the World Economic Forum’s discussions on energy have centred on ways to boost lower-carbon policies.

Kimmeridge to nominate Scott Sheffield to Coterra Energy board, WSJ reports

January 22, 2026

(BOE Report) – Investment firm Kimmeridge plans to nominate former Pioneer Natural Resources CEO Scott Sheffield to Coterra Energy’s board, the Wall Street Journal reported on Thursday, citing people familiar with the matter. Kimmeridge has said Coterra’s board must reassess its leadership structure and appoint an independent, non-executive chair, the report said, adding that it expects to nominate four

U.S. EIA forecasts U.S. crude oil output to remain near record levels

January 22, 2026

(World Oil) – U.S. crude oil production is expected to remain near its 2025 record through next year before declining in 2027, as lower oil prices curb drilling activity in the Lower 48, according to the U.S. Energy Information Administration’s January 2026 Short-Term Energy Outlook. The EIA forecasts U.S. crude oil production will average about 13.6 MMbpd in 2026—essentially flat with

Oil prices settle higher on force majeure at Kazakh field, slow Venezuela exports

January 22, 2026

(Investing) – HOUSTON – Oil prices closed 0.5% higher on Wednesday on optimism around tighter supply after a temporary shutdown at two large fields in Kazakhstan and as low volume of Venezuelan oil exports highlighted slow progress in reversing output cuts in the South American country. Brent futures settled up 32 cents, or 0.5%, to $65.24 a barrel, while the U.S. West Texas

U.S. crude oil inventories increase by 0.5 million barrels- oil and gas 360

U.S. crude oil inventories increase by 3.6 million barrels

January 22, 2026

Weekly Crude Oil Storage as of January 16, 2026 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 3.6 million barrels from the previous week. At 426.0 million barrels, U.S. crude oil inventories are 2% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,

Weekly Gas Storage: Inventories increase by 88 Bcf- oil and gas 360

Weekly Gas Storage: Inventories decrease by 120 Bcf

January 22, 2026

Natural Gas Inventories as of January 16, 2026 The EIA has released its natural gas inventory report, showing a net decrease of 120 Bcf as of January 16, 2026. Working gas in storage was 3,065 Bcf as of Friday, January 16, 2026, according to EIA estimates. This represents a net decrease of 120 Bcf from the previous week. Stocks were

Premium Content