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 […]
United States commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 5.0 million barrels from the previous week. At 467.6 million barrels, U.S. crude oil inventories are slightly below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data, reporting inventories as […]
Are you ready to talk more about how the global investment in oil and gas soars? Read further below. 1. Canada Wildfires Curb Gas Output – Canada’s constant state of emergency triggered by rampant wildfires across the province of Alberta. It is taking a heavy toll on gas production in the country. It is now […]
Enterprise Products Partners (EPD.N) first-quarter crude oil pipeline volumes increased slightly. The pipeline and storage company said on Tuesday, helped by production growth in the top U.S. shale basin. Enterprise has remained bullish on oil production from the Permian Basin. It spread across Texas and New Mexico and is looking to build a crude oil […]
