Oil Price U.S. crude oil production hit an all-time high in August, according to new data published by the Energy Information Administration on Tuesday, with production surpassing pre-covid levels. U.S. field production of crude oil reached 404.6 million barrels during the month of August, new EIA data shows, for an average of 13.05 million barrels per day–squarely breaking the previous record
World Oil (Bloomberg) – U.S. crude oil production surged to a record during the third quarter and is expected to climb further above 13 MMbpd as the nation increasingly plays a vital role in supplying global markets. U.S. oil production jumped to 13.13 MMbpd last quarter and is forecast to rise to 13.16 MMbpd in the fourth quarter, according to
Nasdaq LONDON – U.S. crude oil production was essentially flat in May compared with April – a sign lower prices and a slowdown in drilling activity are finally causing output to peak and turn down. Crude and condensates production for the Lower 48 states excluding federal waters in the Gulf of Mexico rose by just 19,000 barrels per day compared
Oil and Gas 360 Publisher’s Note: SM Energy will be a presenter at the 28th annual EnerCom Denver – The Energy Investment Conference that brings together energy companies, investors, analysts, and key industry leaders. Register to attend at www.enercomdenver.com DENVER, June 21, 2023 /PRNewswire/ — SM Energy Company (the “Company”) announced today certain updates on second quarter 2023 activity. Repurchased 2.6 million
Yahoo Finance Shale technology advances that propelled the U.S. to the top global oil producer spot with world-beating growth rates are falling fewer and farther between as drilling budgets shrink and with them, the research and development that might deliver the next great leap. Inventions, such as directional drilling and hydraulic fracking, spurred U.S. oil production to the world’s highest
Oil Price Exports of crude oil from the United States have surged since Russia invaded Ukraine last year, with Europe turning into the biggest buyer of U.S. crude. The story is pretty much the same as in gas. And so is the production side of this story. When gas prices plummeted in December amid milder-than-expected weather despite a couple of
World Oil (Bloomberg) — U.S. shale companies are set to post yet another strong set of earnings, off the back of robust oil and gas prices in the fourth quarter. But the biggest question for analysts and investors remains whether the industry’s bumper cash flow will tempt them to drill more. The focus of attention will be on operators’
World Oil The American Petroleum Institute, Consumer Energy Alliance, Louisiana Mid Continent Oil and Gas Association, National Oceanic Industry Association and U.S. Chamber of Commerce today joined with more than 80 trade groups representing a diverse cross section of industries in calling on the Biden administration to act on policies that support U.S. energy security and increase domestic production of
World Oil (Bloomberg) –OPEC and its allies once again failed to pump enough oil to meet their output targets, exacerbating the supply deficit as the world recovers from the coronavirus pandemic. OPEC+ cut its production 15% deeper than planned in September, compared with 16% in August and 9% in July, according to delegates with knowledge of the matter. This reflects
CNBC Energy prices around the world are at record highs as a power crunch hits Europe and Asia — and the International Energy Agency warned Wednesday that volatility is here to stay. In its annual report, the Paris-based agency said the world is underinvesting now for future energy consumption, which will make the transition to net-zero emissions unstable. “There is a looming risk of
Nasdaq How high are oil prices really and what signal are they currently sending to producers and consumers about the need for more output and lower fuel use? The strength of a price signal depends on both the real level of prices adjusted for inflation and the rate of change compared with recent years. In terms of the rate of change, prices are already
Reuters SINGAPORE – Top oil exporter Saudi Arabia is expected to raise prices across various grades of crude oil it sells to Asia in September for a second straight month, tracking the strength in Middle East benchmarks, trade sources said. The September official selling price (OSP) for Arab Light crude may rise by 36 cents a barrel on average after
