(Investing) – HOUSTON – Top U.S. oilfield services firms are facing weaker pricing and revenue this year as oil producers become increasingly efficient and keep a cap on spending, according to oilfield executives and analysts. U.S. producers, mainly shale companies which led a fracking revolution that unlocked vast new supplies of crude from rock, are pumping record amounts of oil, but
(Oil Price) – Producers of crude oil and natural gas will invest more in their business next year amid a stumbling transition away from hydrocarbons. The development may come as a surprise in the context of ever more transition commitments on the part of governments, but it simply proves one thing: while there is demand, there will be supply. Investments in
Oil and Gas 360 Ethanol’s Last Stand U.S. ethanol producers are on the cusp of calamity, but hopes are growing for policy-driven longevity. Summary: Ethanol Producers’ Last Stand: Declining gasoline demand forecasts present a catastrophic risk to an industry born out of the EPA’s renewable fuel standards, which mandate ethanol blending in fuels. The industry’s lobbying could pay off, however,
Reuters BRUSSELS – The European Union will retain its tariffs on U.S. biodiesel for a further five years after concluding that removing them would likely lead to a surge of imports at artificially low prices. The tariffs, dating back to 2009, will be extended until 2026, the EU official journal said on Monday. The European Commission, which reviewed the case,
CNBC Demand and supply pressures will offset each other in the oil market, and it’s reasonable to expect prices to remain in its current range in one year’s time as countries recover from the coronavirus crisis, said oil expert Dan Yergin. “If we really do have the rest of the world recover, I think it’s reasonable to think that oil
Reuters LONDON -Oil prices edged lower on Friday on rising supplies from major producers and concerns over a mixed picture on the COVID-19 pandemic’s impact on fuel demand. Brent crude futures for June fell 32 cents, or 0.32%, to $62.88 a barrel by 1230 GMT while U.S. West Texas Intermediate (WTI) crude for May was at $59.43, down 17 cents.
CNBC The shock winter storm in Texas that left millions without power and took dozens of lives also froze a major local commodity: the Lone Star State’s oil production, slashing some 4 million barrels per day from U.S. output. The consequence will be a boost in revenue and potentially increased exports among rival oil-producing nations, commodities experts say. Analysts estimate
Reuters LONDON – Oil prices rose more than 2% on Tuesday, reaching its highest in nearly 12 months after major producers showed they were reining in output roughly in line with their commitments. Brent crude was up $1.31, or 2.3%, at $57.66 a barrel by 1500 GMT for its third straight day of gains and the highest levels since February
Reuters DUBAI/LONDON (Reuters) – The world’s top oil producers Saudi Arabia, Russia and the United States still seemed at odds on Wednesday before this week’s meetings on potentially big output cuts to shore up crude prices that have been hammered by the coronavirus crisis. Saudi Arabia and Russia, which fell out when a previous pact on curbing supplies collapsed in
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