Americans are going to drive this summer like the pandemic never happened, if U.S. ethanol production is any gauge. Output rose last week to the highest level since February 2020, which was shortly before U.S. shelter-in-place orders […]
U.S. investment bank Goldman Sachs expects Brent crude prices to reach $80 per barrel this summer, betting that a recent oil market rally will continue as vaccination rollouts boost global economic activity and demand for […]
(Bloomberg) –OPEC+ appears in control of crude prices as U.S. production is lagging pre-pandemic levels, according to a senior executive at the world’s biggest independent oil trader, Vitol Group. The decline in U.S. drilling and […]
(Reuters) – Pembina Pipeline Corp said on Tuesday it would buy a 50% stake in Canada’s proposed Cedar LNG Project to develop the floating liquefied natural gas facility in British Columbia in partnership with indigenous […]
Oil companies’ mega expansion plan has collided with the pandemic, creating for petrol pumps a double whammy of increased competition and collapsing fuel demand. In two years, companies have added around 12,500 pumps, increasing the country’s fuel […]
Oil rose towards $72 a barrel on Friday, trading close to a two-year high as OPEC+ supply discipline and recovering demand countered concerns about patchy COVID-19 vaccination rollout around the globe. The Organization of the Petroleum […]
Russia was close to complying 100 percent with its oil production quota under the OPEC+ deal in May, Russian Deputy Prime Minister Alexander Novak said on Friday. “It will be better than in April. Close to 100%,” […]
MOSCOW (Bloomberg) –The world’s largest petrostates rejected calls for a rapid shift away from oil and gas, warning that starving the industry of investment would harm the global economy. His warnings were echoed by the […]
Source: U.S. Energy Information Administration, Natural Gas Monthly and Underground Natural Gas Working Storage Capacity Underground natural gas working storage capacity in the Lower 48 states has remained relatively flat since 2012. We measure natural gas working storage capacity […]
OPEC+ stuck to its plan to hike oil output in July, but Saudi Arabia’s energy minister kept the market guessing as to whether the group will add more supply later this year to keep pace […]
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