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EnergyNews

U.S. crude stocks highest since June 2021 as fuel demand falls

January 26, 2023 Mariel Alumit

The Bryan Mound Strategic Petroleum Reserv Jan 25 (Reuters) – U.S. crude inventories rose last week as demand for fuels tapered off, and while the increase was less than expected, crude stocks reached the highest […]

households
EIA News

Crude oil prices forecast to decline beginning in the second half of 2023

January 11, 2023 Allen Santos

January 11, 2023 Data source: U.S. Energy Information Administration, Short-Term Energy Outlook, January 2023 In our January 2023 Short-Term Energy Outlook, we forecast the Brent crude oil price (the global benchmark) will rise from an […]

OPEC+
International News

OPEC+ keeps oil quotas unchanged to await more market clarity

December 5, 2022 Mariel Alumit

OPEC and its Russian-led allies will maintain their production quotas for now, the group said after convening briefly online Dec. 4, adopting a wait-and-see stance amid a hazy outlook for the oil market. The decision […]

Asian
Crude Oil News

Asian upstream players step up efforts to play their part in lifting global crude output

November 17, 2022 Mariel Alumit

Asian upstream companies are rapidly stepping up efforts to play their part in addressing the tight global crude oil supply situation as countries across the region strive to ensure supply security amid ongoing geopolitical tensions […]

crude
Crude Oil News

USGC heavy crude prices may remain under pressure until Canada’s Trans Mountain expansion enters service

November 10, 2022 Mariel Alumit

Record-low differentials for heavy crudes that compete on the US Gulf Coast may not rebound until the Trans Mountain pipeline expansion enters service and diverts Canadian sour barrels away from the US and toward Canada’s […]

OPEC+
Crude Oil News

OPEC+ boosts output by 220,000 b/d as some members recoup recent losses: Platts survey

November 8, 2022 Mariel Alumit

The OPEC+ oil producer alliance, which had pledged to cut output by 100,000 b/d in October, instead hiked production by 220,000 b/d as several members recovered some barrels lost by outages and maintenance, the latest […]

crude oil
EIA News

As much as 15 million barrels of crude oil sold from the U.S. Strategic Petroleum Reserve

October 24, 2022 Allen Santos

October 24, 2022 Data source: U.S. Energy Information Administration, Weekly Petroleum Status Report The U.S. Department of Energy (DOE) announced a notice of sale of as much as 15 million barrels of crude oil from […]

oil demand
Crude Oil News

World oil demand growth ‘continues to lose momentum,’ IEA says, trimming 2022 estimate

September 14, 2022 Mariel Alumit

Global oil demand continues to lose momentum due to China’s economic weakness and a slowdown in countries of the Organization for Economic Cooperation and Development, the International Energy Agency said Sept. 14, trimming its 2022 […]

Oil Prices
Financial Markets

Oil Prices Hit Seven Month Low The Daily Financial Trends

September 8, 2022 Allen Santos

On Wednesday oil prices plummeted, as global benchmark Brent crude fell below $90 per barrel, and American benchmark West Texas Intermediate (WTI) landed at around $85 per barrel. According to data from London’s Intercontinental Exchange, […]

US natural gas
Natural Gas

US natural gas production hits 9-month high as NYMEX futures rally falters

September 7, 2022 Mariel Alumit

US natural gas production is on a tear this month, trending at its highest since late 2021, as steady gains in drilling activity this year begin boosting domestic supply in a potentially chilling turn for […]

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Vermont
Electrical Generation

Vermont gas utility sees geothermal as a part of its carbon-cutting portfolio

February 8, 2023

​Vermont’s only natural gas company is exploring possible sites for its first fossil-fuel-free, networked geothermal project, a heating and cooling technology that could be a natural fit for a company already skilled at designing and […]

Minnesota
Electrical Generation

Minnesota power co-op wants to invest in flexibility for fossil fuel peaker plant

February 8, 2023

​Minnesota’s largest electricity cooperative wants the option to burn diesel fuel oil at a central Minnesota peaker plant as a hedge against volatile natural gas prices. Great River Energy is seeking approval from Minnesota regulators […]

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EIA News

New England’s power grid weathers last weekend’s record-breaking cold and wind

February 8, 2023

February 8, 2023 Data source: U.S. Energy Information Administration, Hourly Electric Grid Monitor From February 3 to February 5, record-breaking cold temperatures and extreme wind chill in New England created strong electricity demand as homes […]

U.S
EnergyNews

U.S. natgas output to hit record high in 2023, demand to fall

February 7, 2023

U.S. natural gas production will rise to a record high in 2023, while demand will fall, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday. EIA projected dry […]

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