It’s not quite pedal to the metal yet but U.S. refiners are inching up production ahead of a summer driving season that might boost profits more than a year after the pandemic decimated gasoline demand. […]
Oil prices rose on Wednesday amid optimistic forecasts of global fuel demand recovery, while the rapid spread of COVID-19 infections in India and a bigger-than-expected build in U.S. crude stocks capped gains. U.S. West Texas […]
Oil advanced to the highest intraday level in more than a month as a combination of declining U.S. petroleum product supplies and signs of stronger demand buttressed expectations for a revival in global consumption. Futures […]
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 0.6 million barrels from the previous week. At 493.0 million barrels, U.S. crude oil inventories are about 1% above the five year […]
NEW YORK–(BUSINESS WIRE)–Hess Corporation (NYSE: HES) today announced another oil discovery offshore Guyana at the Uaru-2 well on the Stabroek Block, which will add to the previously announced gross discovered recoverable resource estimate for the […]
(Bloomberg) — After one of the most difficult years in the oil industry’s history, crude prices have recovered and major producers are finally generating spare cash. Investors really want to get their hands on it, […]
California Governor Gavin Newsom on April 23 directed state agencies to end new fracking permits by 2024 and to analyze how to phase out oil and gas extraction two decades later. The move comes as […]
Crude oil production in Alaska averaged 448,000 barrels per day (b/d) in 2020, the lowest level of production since 1976. Last year’s production was over 75% less than the state’s peak production of more than […]
After the number of drilled but uncompleted wells demonstrated a dramatic drop across multiple US basins in the past year, heightened drilling activity and stable commodity prices are starting to reveal a recovery of young […]
GEORGETOWN/NEW DELHI: India, the world’s third-largest crude consumer and importer, has approached Guyana’s government about a possible long-term deal to buy the South American country’s oil, a Guyanese official said. India has expressed interest in […]
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