360 Digital Closing Bell 6-23-2020
Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 8 min summary of the energy markets.
Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 8 min summary of the energy markets.
LONDON – Global natural gas output is set to fall by 2.6% this year because of the impact of the COVID-19 pandemic, after previously being expected to grow, consultancy Rystad Energy said on Tuesday.
Rystad Energy had expected total …
LONDON – Oil prices rose on Tuesday in a volatile session after U.S. President Donald Trump soothed jangled nerves over the status of the U.S.-China trade deal.
Markets were unsettled by surprise comments from White House trade adviser Peter …
Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 8 min summary of the energy markets.
BEIJING – China aims to produce 1% more crude oil this year than in 2019 and to boost natural gas output by 4.3%, official targets showed on Monday, as the country seeks to safeguard energy security even after a …
FRANKFURT – Germany’s push to increase the use of hydrogen as a clean fuel to meet climate targets will require imports and a traded market to supplement home-produced supplies, a consultancy close to protagonists in the emerging industry said.…
Bank of America (BofA) Global Research has lifted its oil price forecast for this year and next as demand recovers from coronavirus-linked shutdowns, the OPEC+ output cut deal curtails supply, and producers slash capital expenditure.
The bank now sees …
LONDON – Oil prices fell on Monday as concern grew that a record rise in global coronavirus infections could stall recovery in fuel demand, outweighing tighter supplies from major producers.
Brent crude LCOc1 was down 24 cents, or 0.6%, …
The U.S. shale industry is about to enter a period of “great compression” as low oil prices hammer the sector, according to a Deloitte study released Monday.
The firm believes that exploration and production companies could write down …
LONDON – Hedge funds started to realise some profits and anticipate a pull back in crude prices, especially in the United States, after a strong rally saw prices double in less than two months.
Hedge funds and other money …
LONDON – Oil prices are no longer particularly cheap by historical standards.
Perceptions about prices tend to be over-influenced by recent experience so current prices feel very low to producers used to receiving $60-80 per barrel over the 2018/19 …
WASHINGTON/MEXICO CITY – The United States on Thursday blacklisted Mexico’s Libre Abordo and a related company, accusing them of helping Caracas evade U.S. sanctions in the first formal action by the U.S. Treasury Department against Mexican firms involved in …
LONDON – Brent oil rose to above $42 a barrel on Friday, adding to gains in the previous session, after OPEC producers and allies promised to meet supply cuts and on signs of demand, hit by the coronavirus crisis, …
CHN
Oil & Gas Publishers Note: I applaud Prime Minister Modi for standing up for his commitment to the Indian people. Getting the lowest cost power to help elevate the country’s population out of poverty is truly putting his people …
The International Energy Agency has laid out a $3 trillion green recovery plan, offering governments around the world a “once-in-a-lifetime” roadmap to sustainably rebuild their economies in the wake of the coronavirus pandemic.
The Sustainable Recovery report, published Thursday,
Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 8 min summary of the energy markets.
International News Desk: Schlumberger
UBS raised its forecasts on Thursday for the price of Brent crude this year, citing expectations of an undersupplied oil market as demand starts to pick up on the back of a recovering global economy.
“Supply is being curbed …
Saudi Aramco maintained its pledge to make good on its dividend payments, saying Thursday that it would mobilize cash and debt to fulfill the $18.75 billion payouts for the first quarter of this year despite taking a hit from …
LONDON – Oil prices were broadly stable on Thursday after dipping in and out of positive territory as bulls took their cue from shrinking U.S. oil product stocks and bears looked at rising crude stocks and new coronavirus cases.…
Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 8 min summary of the energy markets.
LONDON – Oil prices are likely to average less than $60 per barrel across the next cycle to ensure production, especially from the shale sector, remains in line with the slow increase in consumption.
On Monday, BP announced its …
Saudi Aramco completed the purchase of its 70% stake in the kingdom’s petrochemical giant Sabic from the Saudi Public Investment Fund, it announced Wednesday, tying the knot on one of the largest ever deals in the global chemicals industry.…
LONDON – OPEC forecast on Wednesday a gradual recovery in global demand for oil, which has been hammered by the coronavirus crisis, and said record supply cuts by producers were already helping to rebalance the market.
In a monthly …
CNBC
Sixteen of the world’s leading energy executives met virtually at an unprecedented meeting Tuesday night to talk about how big oil will navigate its biggest crisis in recent history while confronting the coronavirus pandemic.
“Each one of us …
LONDON – Oil prices fell on Wednesday on fears about fresh outbreaks of COVID-19 but prices drew some support from stimulus measures and positive tests of a drug that could save some critically ill patients.
Brent crude LCOc1 was …
Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 8 min summary of the energy markets.
International News Desk: Saudi Aramco completes SABC
Weekly Energy Tracker Call (06/16/20)
Haynes and Boone, AEGIS and EnerCom welcome you to a weekly series of webex meetings to discuss business and legal issues erupting in the oil and gas world, including bankruptcy …
A historic drop occurred on April 20, when the price of West Texas Intermediate crude dropped by almost 300%, trading at around negative $37 per barrel.
The price of oil has steadily recovered, jumping by nearly 90% in May …