After a decade of exponential growth, the U.S. shale patch is no longer the swing producer on the global markets. That role is now back in the hands of OPEC and its largest and most influential members in …
Pressuring oil companies through higher taxes is counterproductive at a time when global crude demand is set to outstrip supply, the CEO of Saudi Aramco, the world’s largest and most profitable energy company, said during the World Economic Forum …
Oil prices rose on Wednesday, extending the previous session’s gains, driven by optimism that the lifting of China’s strict COVID-19 curbs will lead to a recovery in fuel demand in the world’s top oil importer.
U.S. West Texas …
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, …
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 …
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, …
(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 …
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 …
LONDON – The bullishness about petroleum prices which flooded through parts of the investment community at the end of 2022 ebbed in the first full week of 2023 as concerns mounted about the global economy and China’s coronavirus wave.…
How much will U.S. oil production grow this year—this is the question on a lot of minds, both in the United States itself, and across the world.
After proving it could become a game-changer for the global …
SINGAPORE – Oil prices dipped in early Asian trade on Monday, but held close to the highest levels since the start of the year on optimism that China’s reopening will lift fuel demand at the world’s top crude importer.…
LONDON – Oil prices rose on Friday and were on track to gain over 7% on the week on solid signs of demand growth in top oil importer China and expectations of less aggressive interest rate rises in …
U.S. natural gas prices are back to reflecting the domestic supply and demand balances, shaking off – for now – the geopolitical premium that ruled the energy and natural gas markets throughout most of 2022 after the Russian …
LAUNCESTON – The world imported more liquefied natural gas (LNG) in 2022 than ever before, but the war in Ukraine has meant that the growth was concentrated in wealthy European countries and away from poorer Asian countries.
Total global …
Oil prices edged up on Thursday, building on gains in the previous session as China’s demand outlook improved, though gains were limited ahead of upcoming inflation data from the United States.
Brent crude LCOc1had risen 16 cents, …
Although the U.S. marked an historic shift in 2020 by becoming a net exporter of petroleum, it has remained a net importer of crude oil since the end of the Second World War, according to Energy Information Administration …
Energy prices are expected this year to pick up where they left off in 2022—swinging wildly in volatile trading amid a whole host of uncertainties. Geopolitical uncertainties, China’s exit from three years of Covid restrictions, interest rate hikes …
U.S. West Texas Intermediate (WTI) crude futures rose by $1.87, or 2.50%, to $76.60 a barrel.
Brent crude futures rose by $2.50, or 2.70%, at $81.69 a barrel.
Both contracts rose during trading on Monday and Tuesday, …
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 …
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 …
U.S. natural gas futures fell about 4% on Tuesday on rising output and forecasts for lower heating demand than previously expected for this week.
The price decline came despite forecasts for the weather to change from the …
Italy’s former PM Mario Draghi suggested it first, then U.S. Treasury Secretary Janet Yellen took up the idea and built on it. What if, the idea was, large oil importers united against oil producers?
Many from the …
LONDON – Rallying oil prices ran out of steam just before the end of the year as investors turned cautious after two weeks of heavy petroleum buying.
Hedge funds and other money managers sold the equivalent of 12 …
TORONTO – Deloitte says energy prices will likely be volatile in the first quarter of 2023 as geopolitical uncertainty continues.
The firm’s energy, oil and gas price forecast released Monday says global factors including the war in …
(Bloomberg) — Monthly wage growth in the U.S. shale patch slowed to less than 1% in November as explorers pulled back activity to manage record costs in the oilfield.
Average hourly earnings in oil and gas extraction …
Oil prices climbed on Monday as the borders reopened in China, the world’s top crude importer, boosting the outlook for fuel demand growth and offsetting global recession concerns.
Brent crude futures LCOc1rose 90 cents, or 1.2%, to …
