Economy – Page 3 – Oil & Gas 360

Asia likely to benefit from cheaper Canadian, Mexican oil if Trump imposes tariffs

November 27, 2024

(Investing) – SINGAPORE/LONDON -Oil producers in Canada and Mexico will likely be forced to reduce prices and divert supply to Asia if U.S. President-elect Donald Trump imposes 25% import tariffs on crude imports from the two countries, traders and analysts said. Two sources familiar with Trump’s plan told Reuters that oil would not be exempted from potential tariff hikes on imports

Oil producers balk at team Trump’s tariff plan for Canadian imports

November 26, 2024

(Oil Price) – When Donald Trump floated the idea of slapping 25% tariffs on Canadian and Mexican imports, it was more than just a shot across the bow—it was a cannonball aimed squarely at North America’s deeply entwined trade ecosystem. U.S. oil producers are warning that a tariff on heavy oil imported from Canada would raise consumer prices at the pump.

Energy Market Assessment: Awareness of the economy and energy markets greatly reduced

October 15, 2024

Energy Market Assessment: The high level of lack of understanding and the greatly reduced awareness of the economy and energy markets are providing much opportunity.

Energy Market Assessment: The latest data on America’s employers says we are not in a recession or heading to one.

October 8, 2024

(Oil & Gas 360)—Energy Market Assessment: The latest data on America’s employers shows that we are not in a recession or heading toward one. More prosperity-producing ingredients are needed. Last Tuesday, the Bureau of Labor Statistics Job Openings and Labor Turnover (JOLTs) report showed that the number of non-farm job openings increased by 329,000 in August to 8.040 million (Figure 1,

Oil prices steady with spotlight on US rate verdict

September 17, 2024

Investing Oil prices held steady on Tuesday in choppy trade as the focus turned to the U.S. Federal Reserve’s policy meeting that concludes on Wednesday, while fears of weaker demand in China curbed gains. Prices saw some support from prospects of lower U.S. crude stockpiles and concerns over U.S. production in the aftermath of Hurricane Francine. Brent crude futures for November were up

U.S. inflation cooled in August thanks to lower energy prices

September 11, 2024

Oil Price Falling oil and gasoline prices, along with the rest of the energy complex, helped to slow down the annual rate of inflation in August. According to AAA data, gasoline prices averaged $3.253 per gallon on Wednesday, down from $3.445 a month ago and $3.832 a year ago. According to Bureau of Labor Statistics data released Wednesday, the gasoline index declined 0.6%

U.S. oil & gas Jobs are disappearing despite record production

August 1, 2024

Oil Price U.S. oil production is breaking records, but employment numbers have dropped in five out of six months this year as operational efficiencies allow operators to continue to boost production with fewer rigs and workers, the Texas Oil & Gas Association (TXOGA) said last week in a cautionary note. Texas, home to the biggest shale basin, the Permian, has seen crude

Is domestic oil and gas’ biggest risk unrisked?

July 25, 2024

Oil and Gas 360 “First imperceptible, then unstoppable.” The risk of parallel trading systems that bypass the U.S. petrodollar continues to grow from BRICS’ (Brazil, Russia, Iran, China, South Africa) machinations. This new “axis of oil” produces about 40% of crude oil production and comprises nearly half the world’s population. Integrating global oil and gas markets into

“Economic powerhouse:” Permian basin contributes over $100 billion, 800,000 jobs on leading U.S. oil and gas production

July 16, 2024

World Oil (WO) — The Permian basin continues to grow rapidly, reflecting the region’s importance as an economic powerhouse for Texas, New Mexico and the country. This year’s Economic Report from the Permian Strategic Partnership (PSP) highlights the region’s essential role in supporting critical government functions such as road improvements, public schools and teachers, police and fire departments, community hospitals

U.S. oil and gas industry jobs experience growth despite national economic challenges, Energy Workforce reports

July 12, 2024

World Oil (WO) – The Energy Workforce & Technology Council released its monthly jobs report, indicating signs of continued improvement in employment growth across the oil and gas industry. In June 2024, the U.S. oil field services sector experienced an increase in job gains, with a gain of 968 jobs, according to preliminary data from the Bureau of Labor Statistics

BP halts hiring, slows renewables roll-out to win over investors

June 27, 2024

Yahoo Finance LONDON – BP’s new CEO Murray Auchincloss has imposed a hiring freeze and paused new offshore wind projects as he places a renewed emphasis on oil and gas amid investor discontent over its energy transition strategy, sources at the company said. The moves, which have not previously been reported, are part of a decision by Auchincloss to slow

UK banks no longer finance nation’s small oil and gas producers as Labour party plans windfall tax extension

June 21, 2024

World Oil (Bloomberg) – There is no longer a single British bank financing the smaller independent oil and gas producers that account for the bulk of production and investment in the North Sea, according to Neptune Energy. “The future of the North Sea is now dependent upon the U.S. banks or Norwegian banks and not on the UK banks,” Julian

Premium Content