World Oil The American Petroleum Institute (API) today released the following statement from President and CEO Mike Sommers in response to President Biden’s remarks on gas prices: “Rather than taking credit for price declines and shifting blame for price increases, the Biden administration should get serious about addressing the supply and demand imbalance that has caused higher gas
Oil and Gas 360 BIRMINGHAM, AL / ACCESSWIRE / October 31, 2022 / Diversified Energy Company PLC (LSE:DEC) (“Diversified” or the “Company”) is pleased to announce that on 27 October 2022 Diversified and Oaktree Capital Management, L.P. (“Oaktree) jointly closed an ESG-aligned asset backed securitization (“ABS”) of certain co-owned producing natural gas and oil assets located in Oklahoma (the “Assets”). This
CNBC Oil prices rose on Tuesday, recouping losses from the previous session, as a weaker U.S. dollar offset widening COVID-19 curbs in China that have stoked fears of slowing fuel demand in the world’s second-largest oil consumer. Brent crude for January delivery rose $2.64, or 2.8%, to $95.45 a barrel. The December contract expired on Monday at $94.83 a barrel,
Oil Price Two Big Oil majors have said they expect oil production in the Permian to rise by less than they had initially planned this year, suggesting industry problems are indeed serious enough to hold back production growth in the most prolific shale play in the United States. In their third-quarter reports, Chevron and Exxon both revised down their planned output from the
US News ABU DHABI -OPEC raised its forecasts for world oil demand in the medium-and longer-term in an annual outlook released on Monday and said $12.1 trillion of investment is needed to meet this demand despite the energy transition. The view from the Organization of the Petroleum Exporting Countries, in its 2022 World Oil Outlook, contrasts with that of
Oil Price Europe is set to increase its reliance on oil imports from the United States after the EU embargo on Russian seaborne crude imports enters into force in early December, Claudio Descalzi, chief executive of Italy’s energy group Eni, told Bloomberg in an interview on Monday. The embargo on Russian crude imported by sea kicks in on December 5. Supply to
Nasdaq LONDON – Portfolio investors’ oil positions are exhibiting significant week-to-week volatility as traders struggle to anticipate the net effect of an economic slowdown amid exceptionally low inventories of crude and diesel. Hedge funds and other money managers purchased the equivalent of 33 million barrels in the six most important petroleum futures and options contracts in the week to
Oil Price The pace of the energy transition could be slowed by a looming shortage of copper, analysts and top copper producers say. “There is going to be a very significant shortage in copper,” Richard Adkerson, chairman and CEO at U.S. copper producer Freeport-McMoRan, the world’s largest listed copper miner, told the Financial Times. The decarbonization drive will increase the
BOE Report U.S. natural gas futures jumped about 10% to a two-week high on Monday on forecasts for more demand this week than previously expected with the return of Berkshire Hathaway Energy’s Cove Point liquefied natural gas (LNG) export plant in Maryland. Traders said the market largely ignored record output and forecasts for milder weather and less demand next
Nasdaq Oil prices will find support from OPEC+ output cuts and sanctions on Russia for the rest of the year and into the early part of 2023, a Reuters poll showed on Monday, but a recession could limit further gains. A survey of 42 economists and analysts forecast benchmark Brent crude LCOc1 would average $101.10 a barrel this year, and $95.74
World Oil (Bloomberg) — As big banks pull back on lending to oil and gas drillers, some U.S. energy companies are relying on a novel kind of bond to get the financing they need. The bonds are backed by the companies’ oil and gas reserves, meaning producers are essentially pledging income from their wells in exchange for up-front cash. The
Yahoo News LONDON – OPEC is likely to maintain its view world oil demand will rise for another decade, longer than many other forecasters predict, in a forthcoming major report, despite the growing role of renewables and electric cars, two OPEC sources said. The Organization of the Petroleum Exporting Countries is scheduled to update its long-term oil demand forecasts
