In the months after Russia’s invasion of Ukraine any hint of bad news sent energy prices into the stratosphere. When a fire forced an American gas plant to close, strikes clogged French oil terminals, Russia demanded Europe pay for fuel in roubles or the weather looked grimmer than usual, markets went wild. Since January, however, […]
The global oil & gas fabrication market size was worth USD 4.86 billion in 2021. The market value is slated to rise from USD 5.03 billion in 2022 to USD 6.93 billion by 2029 at 4.7% CAGR during the forecast period. The infrastructure of the oil & gas industry is complex. An oil rig or platform is […]
The biggest U.S. shale regions are expected to produce a record-high level of crude oil in July. Growth is sputtering and set to be the slowest since December 2022. With that, data from the Energy Information Administration (EIA) showed on Monday. The seven main shale-producing regions in the United States are expected to pump 9.375 […]
Oil prices rise early on Wednesday as Chinese data showed crude imports. It is the world’s top oil importer jumped in May, recovering from a weak April. As of 8:13 a.m. EDT on Wednesday, ahead of the EIA weekly inventory report, WTI Crude prices were up by 0.99% at $72.45. The international benchmark, Brent Crude, traded at $76.98, […]
US oil and gas output continued to rise strongly in March – the delayed impact of very high prices that prevailed until the third quarter of 2022. Oil output increased by 171,000 barrels per day (b/d) in March compared with February, according to the U.S. Energy Information Administration (“Petroleum supply monthly”, EIA, May 31). The […]
Texas could soon have a new law based on the federal regulations code on climate. It aims to make the state a sort of safe haven for the oil and gas industry. It is by shielding it from federal climate and environmental regulation. But experts say the measure would do little to change environmental enforcement […]
The U.S. on Thursday held its first sale of oil and gas drilling rights on federal lands. This was since the passage of President Joe Biden’s landmark climate change law. It is attracting more than $78 million in high bids for leases in New Mexico and Kansas. Let’s talk more about this US Oil and […]
The Texas Independent Producers and Royalty Owners Association said the state saw a gain in upstream oil and gas employment. This was in April and that more jobs were available with Houston offering the most opportunities. Let’s talk more about this. The association’s analysis of data from the U.S. Bureau of Labor Statistics showed that […]
Crude oil prices have been fluctuating within a band. This was since the last couple of months driven by a bunch of positive and negative factors coming into play. But, investors may brace for further volatility in global oil prices due to various factors that are impacting the market. Analysts believe that crude oil prices […]
Oil prices will return to above $80 per barrel in the second half of this year. This could continue rising toward $90 due to a deepening supply deficit at Francisco Blanch. This is what the head of commodities research at Bank of America has been telling Bloomberg Television on Friday. This quarter will be a […]
