Tag Archive for: oil and gas

oil and gas companies white house

The White House has been speaking with U.S. oil and gas companies in recent days about helping to bring down rising fuel costs. Moreover, according to two sources familiar with the matter, this is due to the continuous oil price hike.

Energy costs are rising worldwide, in some cases leading to shortages in major economies like China and India. In the United States, the average retail cost of a gallon of gas is at a seven-year high. Moreover, winter fuel costs are expected to surge, according to the U.S. Energy Department. Oil-and-gas production remains below the nation’s peak reached in 2019.

The talks with energy companies touched on several issues, including prices, according to a third person familiar with the discussions. The administration has been in discussions with the oil industry over limiting methane emissions in recent months.

U.S. crude oil recently hit $80 a barrel for the first time in seven years, as the Organization of the Petroleum Exporting Countries and their allies known as OPEC+ restrict output. The White House has discussed rising prices with top OPEC producers in Saudi Arabia in recent weeks.

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Source: Reuters

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oil prices increased

As oil prices increased, it is closely associated with U.S. consumers’ and investors’ expectations. Mainly, the expectations are because of inflation in the future. Like what experts say, this helps explain why they are sensitive for central banks and other policymakers. Because of that, further studies were made.

The rise and fall in oil prices have correlated with expectations about future inflation. Research by the University of Michigan’s monthly consumer survey and breakeven rates proves this. This was derivable from U.S. Treasury Inflation-Protected Securities (TIPS). Cyclical changes in Brent prices over the previous 12 months have a pronounced association with changes. These are changes in the rate expectation of all-items inflation. Coverage is over the next 12 months in the University of Michigan survey.

Cyclical changes in Brent prices over the previous 12 months have a pronounced association. So there will be changes in the expected rate of all-items inflation over the next 12 months in the University of Michigan survey.

Changes in prices also have an association with changes in the expected rate of all-items inflation. Therefore, over the next five and ten years, this will be more evident in U.S. Treasury breakeven rates.

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Source: Reuters

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