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 […]
Some of the Permian Basin’s leading oil and gas companies announced plans to continue increasing extraction operations and investments. This is even as oil prices dipped due to an impending global recession. Much of the spending would go to decreasing the environmental footprint of fossil fuel extraction. Amid shifts in government policies and investor pressure […]
OPEC on Tuesday said it expected to see robust global oil demand growth in 2023. It is a with potential economic upside coming from a relaxation of China’s zero-COVID policies. This year have pushed the country’s oil use into contraction for the first time in years. World oil demand in 2023 will rise by 2.25 […]
Oil rises to over $80 a barrel on Tuesday. It recorded its biggest daily gains in over a month. As investors bought up risk assets after U.S., data pointed to slowing inflation. The market was also buoyed by concerns about supply disruptions. It includes the ongoing shutdown of the Canada-to-United States Keystone crude pipeline. This […]
With oil tumbling ahead of the grueling 2023 recession, the last thing OPEC+ and (bullish) oil traders wanted to see is even more supply coming online. Yet, that’s precisely what the core gulf hub is proposing. According to Bloomberg, the United Arab Emirates – which in recent years has aggressively sought to diversify away from […]
The global offshore oil and gas pipeline market is poised to grow by $3,754.62 million during 2023-2027, accelerating at a CAGR of 5.3% during the forecast period. The market is driven by the economic benefits of offshore pipelines than other oil and gas transportation modes, the surge in E&P activities, and rising global energy demand. […]
U.S. energy firms this week left the number of oil and natural gas rigs operating unchanged for the first time since June, energy services firm Baker Hughes Co said in its closely followed report on Friday. The US oil and gas rig count, an early indicator of future output, remained unchanged at 784 in the […]
