Saudi Arabia’s state oil company Aramco, under pressure from the West to boost output amid soaring prices, pledged on Sunday to hike investments by around 50% this year as it reported a doubling in 2021 […]
The UK’s offshore energy industry has welcomed a speech by Boris Johnson warning that it would be “crazy” to shut down North Sea oil and gas production in the face of global shortages and price spikes. The […]
(Bloomberg) — Russia’s invasion of Ukraine threatens to intensify the surge in global inflation, hurting oil demand and investment, the Organization of Petroleum Exporting Countries warned. International crude prices briefly hit a 13-year high of […]
The world is facing the most important environmentally important crossroads in our history. Between the demand for oil and gas, the fracking’s dirty reputation, and the dramatically increased demand for electricity, the Carbon Net-Zero path […]
Chevron Corp. said any short-term efforts by the Biden Administration to ease crude prices should be backed up by long-term commitments to support investment in America’s domestic oil industry. President Joe Biden is considering releasing […]
Less than two years after the price of oil briefly plummeted to roughly negative $37 a barrel, an oil boom is underway in America—even in places where drilling was all but abandoned two years ago. “Private oil […]
Source: WSJ Spurred by the highest oil prices in years, shale companies are moving drilling rigs back into oil fields that were all but abandoned a few years ago. Private oil producers are leading an industry […]
The two-year Covid crisis put many markets on a wild ride—just look at U.S. Treasuries—but few have had a crazier time than crude oil: from total collapse in 2020 to the brink of $100 a barrel […]
“That’s the max,” chief executive Rick Muncrief told analysts today, citing the steep backwardation in the oil market due to uncertainty around the potential return of Iranian supplies as well as other factors. “That’s why […]
U.S. shale drillers will be eager to boost production as oil prices near $100 per barrel, but a looming frac sand shortage may stop them. Combined with rising labor costs, a potential trucker shortage, and […]
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