Oil prices rally extended Tuesday’s gains into Wednesday. It is rising by 1% in early European trade. It is as market sentiment turned bullish on hopes that China’s reopening would boost demand growth. With that, major economies may avoid recessions. The U.S. benchmark, WTI Crude, was trading up by 0.95% at $81.00 as of 9:05 CET. Brent […]
Average U.S. retail gasoline prices have risen due to the demand for the second week in a row. It is now 8.2 cents above the week ago price. This is waht Gas Buddy said in a note on Monday, citing refinery outages. While gasoline prices are now $3.25 per gallon as of Sunday and above […]
Since the initial discovery of oil at Spindletop on January 10, 1901, the financial fortunes of the Texas state government have tended to ebb. Thanks to oil and Gas! For the flow of fortunes of the state’s oil and gas industry. In his biennial official state revenue estimate that precedes each legislative session, Texas Comptroller […]
The Biden administration has backed down from a plan to impose what critics said were “draconian regulations”. It is in the Permian Basin of west Texas and southeastern New Mexico. This a move lauded by the oil and gas industry and Gov. Greg Abbott. The Biden Administration on Thursday released its Fall 2022 Unified Agenda of Regulatory […]
While S&P’s Dan Yergin expects the base case for oil prices to stand at $90 in 2023, there remains a chance it could go as high as $121 when China fully reopens, he said, adding that there are three major uncertainties looming over the market. Let’s talk more about this high oil price trend. “Our […]
Visiongain has published a new report entitled Offshore Oil & Gas Decommissioning 2023-2033. It includes profiles of Offshore Oil & Gas Decommissioning and Forecasts Market Segment by Removal Type, (Leave in Place, Partial Removal, Toppled in Place, Complete Removal) Market Segment by Techniques, (Well Plugging and Abandonment, Pipeline Decommissioning, Platform Decommissioning, Umbilical Decommissioning, Subsea Structure Decommissioning) Market […]
As crude oil prices have risen recently, that means higher gasoline prices across the nation — and Austin drivers are feeling the impact. The average price for a gallon of unleaded gas in Austin is $2.72. That’s up 14 cents from a month ago, when the cost was $2.58, according to a report from auto […]
Upstream oil and gas employment in Texas continued to grow in November, with the sector adding 2,600 jobs versus October. This data is from the Texas Workforce Commission show. October’s gain revision upward to 3,100 from the original estimate of 2,800. It is what thethe Texas Oil and Gas Association (TXOGA) innclude in its monthly […]
Billions of dollars in “new money” to the state of New Mexico was expected in the next fiscal year. It is due to the increase in oil and gas production in the southeast corner of the state. Moreover the oil-rich Permian Basin. The latest report from the Legislative Finance Committee (LFC) showed about $3.6 billion […]
Oil rises on Monday as the prospect of demand recovery. This is led by China’s loosening of the COVID-19 curb. Moreover, it is due to the United States’ decision to buy back oil for its state reserves. They gained the upper hand over global recession fears. Brent crude futures LCOc1 gained 74 cents, or 0.9%, to $79.78 […]
