Daily Standup Top Stories U.S. LNG will be the United States’ largest export product – Secretary Chris Wright On the Crude Truth Substack, Rey Trevino writes: Secretary Chris Wright provided a comprehensive summary of the first 100 days of the Trump administration’s energy initiatives during the cabinet meeting today. As an oil and gas exploration […]
Continue ReadingDaily Standup Top Stories Norway’s Oil Fund to Buy Stakes in Offshore Wind for $1.5 Billion March 31, 2025 Clark Savage The world’s biggest sovereign wealth fund, Norway’s $1.8 trillion oil fund, will buy 49% in two offshore wind farm developments of RWE for a total of $1.5 billion (1.4 billion euros), the fund’s manager, Norges […] […]
Continue ReadingData source: China General Administration of Customs, Bloomberg L.P. Slower oil demand growth in 2024 led to less crude oil processed by China’s refineries and fewer crude oil imports compared with the record high set in 2023. China, the world’s largest importer of crude oil, received 11.1 million barrels per day (b/d) in 2024, down from 11.3 […]
Continue ReadingDaily Standup Top Stories Germany on course for longest post-war recession – data January 15, 2025 Mariel Alumit GDP contracted by 0.2% in 2024 due to soaring energy costs and weak exports, official figures show The German economy contracted for a second straight year in 2024 for the first time in more than […] The EU’s Trump-China […]
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Data source: U.S. Energy Information Administration, Gasoline and Diesel Fuel Update Note: Retail price is for all formulations of regular grade gasoline. The U.S. retail price for regular grade gasoline averaged $3.30 per gallon (gal) in 2024, $0.21/gal less than in 2023. Lower crude oil prices and narrower refinery margins in 2024 than in 2023 both contributed to the decrease […]
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Data source: Bloomberg, L.P. Note: A front-month contract is a futures contract that is the closest to expiration. Benchmark Brent crude oil futures prices averaged $80 per barrel (b) in 2024, $2/b less than in 2023. Intraday prices stayed within a $24/b range, between $68/b and $93/b (after rounding), which was the narrowest trading range since 2019. […]
Continue ReadingDaily Standup Top Stories Job One for Doug Burgum at Interior – David Blackmon December 11, 2024 Clark Savage Anticipating a potential Donald Trump win over first Joe Biden and then Kamala Harris in the presidential race, officials and bureaucrats have spent the last 12 months pushing out as many new regulations as they […] Oil Wobbles […]
Continue ReadingDaily Standup Top Stories US opens applications for $900 million for small nuclear reactors October 16, 2024 Mariel Alumit WASHINGTON, Oct 16 (Reuters) – The U.S. on Wednesday opened applications for up to $900 million in funding to support the initial domestic deployment of small modular reactor nuclear technology. WHY IT’S IMPORTANT President Joe […] […]
Continue ReadingDaily Standup Top Stories Oil Markets Are Ignoring Imminent Production Cuts By 3 OPEC+ Members September 11, 2024 Stu Turley It’s doubtful whether the Gulf of Mexico shutdowns will generate enough momentum to fully reverse the months-long oil price selloff. Back in July, Russia, Iraq and Kazakhstan submitted their compensation plans to the OPEC Secretariat […] Layoffs […]
Continue ReadingDaily Standup Top Stories California Emits More Greenhouse Gas Than All Other U.S. States Combined April 6, 2024 Stu Turley California, renowned for its stringent climate policies, has been identified as the leading emitter of sulfuryl fluoride, a potent but long-lasting greenhouse gas, according to a recent study published in Communications Earth & Environment. Sulfuryl […] Why […]
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