West Virginia increased natural gas and oil production 14% and 10%, respectively. This is from 2019-2020, according to a new report from The Gas and Oil Association of West Virginia. Producers operating in the state have contributed $3 billion in state severance and property tax revenue. This is from a 2008 report. “The natural gas […]
The average cost of a gallon of gas continues to increase as crude oil US price remain high. Triple-A Reports that the statewide average cost of a gallon of gas went up eight cents over the last seven days to $3.52 a gallon. That is also a 19 cent increase from last month at this […]
Wild spikes in the prompt time spread for oil product futures in the United States. This suggested that crude oil supply is set to tighten further, adding upward pressure to prices, Bloomberg has reported. Basically, high price of oil is expected to continue moving. According to the report, the time spread, which is the price […]
OPEC and a Russia-led group of oil producers agreed to continue increasing production in measured steps, delegates said Monday, deciding against opening the taps more widely and driving U.S. crude prices to their highest levels since 2014. Crude oil price history is indeed at an all-time high. Short insights: We all know where do crude […]
U.S. energy firms this week added oil and natural gas rigs for a fifth week in a row as oil prices soared to their highest since 2014 prompting some drillers to return to the wellpad. The combined oil and gas rig count, an early indicator of future output, rose five to 533 in the week […]
What’s happening with the oil demand and supply? Oil prices jumped on Monday to the highest levels in years, fueled by rebounding global demand that has contributed to power and gas shortages in key economies like China. Brent crude rose $1.26, or 1.5%, to settle at $83.65 a barrel. The session high was $84.60, its […]
U.S. shale producers have behaved in an exemplary way in the past year. It wasn’t something the industry wanted to do. It was something it was forced to do by the pandemic and by its shareholders, who after years of waiting for windfalls put their foot down and demanded higher returns. But it just might […]
⚠️ IMPORTANT LEGAL DISCLAIMER: The information provided on this page is for general informational purposes only and does not constitute legal, financial, or investment advice. Oil and gas laws, mineral rights regulations, and royalty structures vary significantly by state and jurisdiction. While we strive to provide accurate and up-to-date information, no guarantee is made to […]
Big oil could help tackle the water shortage in the western United States. Oil pipelines repurposing existing infrastructure to help transport clean water to the areas most in need. Innovations such as this highlight how oil and gas majors are relevant. This includes their infrastructure and knowledge. It will always be relevant even in a […]
Even after 2050, global oil demand is set to continue to rise. It is because renewables cannot entirely replace fossil fuels. Energy markets expert Anas Alhajji said during a recent energy conference hosted by Nigeria. “The impact of climate change policies on oil demand is highly exaggerated. The impact is mostly on-demand growth, not on-demand […]
