While U.S. shale production is still growing, it is expected to grow at a slower pace due to cost inflation and mixed messages from the Biden administration. As U.S. shale production growth slows, OPEC will […]
After OPEC+, consisting of 23 oil-exporting countries including Russia, revealed crude oil production cuts for 2023, the U.S. Energy Information Administration (EIA), the statistical and analytical agency within the U.S. Department of Energy, has slightly […]
After catching some decent inflation data last week, the Federal Reserve probably could have had a better start to this week than receiving the news that OPEC in a very surprising move cut oil production […]
Energy Secretary Jennifer Granholm last month said it would be difficult for the U.S. to take advantage of low oil prices to replenish the Strategic Petroleum Reserve because of maintenance at two of the four […]
April 2 (Reuters) – The Biden administration said the surprise oil output cuts announced on Sunday by Saudi Arabia and other OPEC+ countries were not advisable. “We don’t think cuts are advisable at this moment given market […]
Dow Jones edged higher early Monday morning, while S&P 500 and Nasdaq futures fell modestly. Crude oil prices jumped on a surprise OPEC+ output cut. Tesla deliveries also are in focus. The stock market rally […]
The Joint Ministerial Monitoring Committee of the OPEC+ group recommended that no changes be made to oil production quotas. The decision was not a surprise, with Putin and MBS having discussed OPEC+ cooperation just days […]
DUBAI, Nov 21 (Reuters) – Saudi Arabian energy minister Prince Abdulaziz bin Salman said the kingdom is not discussing a potential oil output increase with other OPEC oil producers, state news agency SPA reported, denying […]
The first question that comes to mind (as oil already tests multi-month lows) is – why would they do this? The Wall Street Journal reports that Saudi Arabia and other OPEC oil producers are discussing […]
Viral Facebook post: A “small area” in western Texas and southeastern New Mexico “has enough oil to fuel America for the next 200 years.” PolitiFact’s ruling: False Here’s why: Does America possess enough oil in 86,000 square miles […]
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