Oil and Gas Prices

News
October 06, 2022
The secretary-general of APPO, the African Petroleum Producers Organization, has come out in support of the recent decision by OPEC to cut production by around 2% on the side-lines of Africa Oil Week in Cape Town.
News
October 06, 2022
U.S. President Joe Biden said he’s disappointed by the surprise OPEC+ decision to slash oil production but that he doesn’t regret a trip to Saudi Arabia just three months ago in which he urged its leaders to keep crude flowing.
News
October 05, 2022
It’s the biggest reduction by the Organization of Petroleum Exporting Countries and its allies since 2020, but will have a smaller impact on global supply than the headline number suggests. Several member countries are already pumping well below their quotas.
News
October 03, 2022
OPEC+ will consider cutting oil output by more than 1 million barrels a day, according to delegates, when it meets in person on Wednesday for the first time in more than two years.
News
September 30, 2022
Skyrocketing oil prices have helped make oil and gas producers the best performers in the stock market this year, triggering a rapid rise in dividend payments and a bonanza of special dividends.
News
September 28, 2022
Shale executives have dramatically dialed back their oil-price expectations over the past three months as recession risks weigh on the market, according to the latest energy survey by the Federal Reserve Bank of Dallas.
News
September 27, 2022
While U.S. gasoline prices have come down from the highs seen this summer, they’re clearly still weighing on President Joe Biden, who repeated demands for oil companies to charge less.
Article
September 2022
The invasion of Ukraine is transforming the world outlook for the supply, demand and price of hydrocarbons and the pace and cost of the energy transition. While the precise timing of future bans on Russian commodity imports are difficult to predict, a major restructuring of energy trade routes is underway.
News
September 20, 2022
The Department of Energy will offer additional U.S. reserve crude for sale ahead of plans by the European Union to ban most Russian oil in December.
News
September 09, 2022
Oil rebounded from an eight-month low as the market shrugged off a U.S. report showing swelling crude stockpiles and slumping demand.
News
August 25, 2022
U.S. shale producers are on course to make nearly $200 billion this year, enough to make the industry debt-free by 2024 and potentially fund a pivot toward more natural gas production, according to Deloitte LLP.
Article
August 2022
Russia’s war in Ukraine has destabilized Europe’s energy markets. It has compromised Germany’s energy transition, with repercussions for all of Europe. Warrior Putin has compromised Russia’s leading position in the European energy markets.
Article
August 2022
Rising interest rates and fear of economic recession caused crude prices to decline in July, despite restricted Russian supply.
Article
August 2022
The transition to renewables and clean energy alternatives has created an unprecedented reduction of investment in hydrocarbon-based energy, in favor of developing green resources.
News
August 24, 2022
New figures show domestic gas production in the first half of 2022 was 26% higher than the same period in 2021, which is enough to heat almost 3.5 million UK homes for a year.
News
August 24, 2022
Saudi Arabia’s oil exports reached $31 billion in June, the highest in at least six years, driven by a rally in prices and rising production.
Article
August 2022
It’s no surprise that the loss of both coal- and nuclear-generated power, combined with the sudden gas shortage caused by Russia/Ukraine, has brought a real shortage of easily accessible energy resources and spiked electricity rates that are nearly six times what they were a year ago.
News
August 23, 2022
At a time when global oil markets are experiencing significant volatility, member countries of OPEC+ have the means to address these challenges, and Equatorial Guinea will continue to support efforts to improve market stability.
News
August 23, 2022
On July 30, ENTSO-E allowed a 2.5-fold increase in the export of Ukrainian electricity to Europe, only up to 250 MW. This gives Ukraine a revenue stream for supporting its energy sector.
News
August 19, 2022
Warren Buffett’s Berkshire Hathaway Inc. won approval from U.S. regulators to buy as much as 50% of Occidental Petroleum Corp. after spending months acquiring its shares. Occidental’s shares surged on news of the authorization.
News
August 17, 2022
U.S. oil and gas producers recovered and reset in 2021, posting increased profits of $73.7 billion and $211.9 billion in revenues, according to the EY U.S. oil and gas reserves, production and ESG benchmarking study.
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