Oil flows in Texas are shifting, with Houston set to attract increasing volumes of both US and Canadian crude over the near and medium term. Several factors are likely to incentivize shipments to Houston going […]
Oil prices sank, with West Texas Intermediate plunging below $65 a barrel, as escalating investor concerns about a global banking crisis eroded appetite for risk assets including commodities. Global benchmark Brent also dropped below $71 […]
Pioneer Natural Resources CEO Scott Sheffield says oil could reach $100 a barrel by q4. He also says oil output in the Permian Basin will peak in five to six years. He speaks to Bloomberg’s […]
As Covid-19 lockdowns gripped the world in 2020, Bernard Looney, chief executive officer of BP Plc, made a startling admission: He thought that oil demand might never return to its pre-pandemic peak. But recently, Looney has […]
Mar 3, 2023 (Bloomberg) Oil headed for a weekly gain as confidence in China’s recovery offset concern that US monetary policy is set to tighten further.West Texas Intermediate slipped below $78 a barrel, but is […]
Oil posted its largest weekly gain in four months after Russia followed through on a threat to cut production in response to western energy sanctions. Moscow says it will reduce output by half a million […]
Oil prices drifted sideways to modestly lower overnight after the notable builds reported by API, as mixed company earnings and weaker business activity spurred concerns about the US economy While there’s expectation that China’s oil […]
Oil held steady as investors weighed the extent of China’s demand recovery and fears a global slowdown with drag down consumption. West Texas Intermediate futures were $80 a barrel after declining 1.8% on Tuesday as […]
January 25, 2023 Data source: U.S. Energy Information Administration, Short-Term Energy Outlook, January 2023 In our January 2023 Short-Term Energy Outlook, we forecast that crude oil production in the United States will average 12.4 million […]
Oil futures gained slightly on Thursday, even in the face of recession fears as a sharp decline in U.S. retail sales and manufacturing output muddied the outlook for demand, while industry data showing a surprise […]
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