Oil and Gas Prices
News
February 27, 2023
As traders congregate in cocktail bars and hotels for International Energy Week, two issues will top the agenda: whether China’s economic reopening can bolster demand, and if sanctions on Russia will finally slash the energy giant’s supply.
News
February 24, 2023
Russia’s crude fetched an average of about $74 per bbl in the four weeks that followed the cap, according to calculations by experts including from the Institute of International Finance, Columbia University and University of California.
Article
February 2023
Back to Saudi Arabia, China, and oil pricing in dollars
News
February 16, 2023
Pricing data from Platts, a unit of S&P Global, suggest traders are garnering an unusually large margin on shipments of Urals crude sent from Russia’s ports in the Baltic region to India’s west coast, with delivery prices more than $20 a barrel higher than the purchase amounts.
News
February 16, 2023
The report by Airswift, the global workforce solutions provider to the STEM industries, finds that, with oil and gas majors posting record profits, 44% of oil and gas workers saw their pay increase last year and two-thirds expect further salary rises next year. 41% expect bumper pay rises of over five per cent next year.
News
February 06, 2023
Winter Storm Mara swept through Midland, the Dallas-Fort Worth area, and into San Antonio, covering several gas production basins in the state. The key elements of natural gas supply all performed up to par during the arctic blast.
News
February 01, 2023
Enverus Intelligence Research has released its latest quarterly FundamentalEdge report focused on global drivers for oil and gas prices in 2023, the five-year oil and gas supply and demand outlook, as well as price forecasts.
Article
January 2023
Crude prices declined in December, due to apprehension that steadily increasing interest rates will trigger a global economic recession. WTI fell 9.4%, to average $76.44/bbl in December, with Brent trading at $80.92/bbl, down 11.5% compared to November.
News
January 26, 2023
The tsunami of cash generated by the group over the past 12 months means the industry can sustain dividend increases and share buybacks, analysts said. Crucially for shareholders, management teams held off on spending increases as commodities boomed, in stark contrast with previous cycles.
News
January 06, 2023
The update suggests the company may avoid a repeat of what happened in the third quarter when Shell’s peers were much more successful in profiting from record gas prices in Europe.
News
December 30, 2022
U.S. shale executives remain concerned about the outlook for rising costs going into 2023 as they continue to struggle with hiring and retaining workers, according to the Federal Reserve Bank of Dallas.
News
December 29, 2022
The oil and gas industry warns that the Energy Price Levy, which slaps a 35% rate on profits from North Sea producers, risks drying up investment in a sector that’s key to the country’s energy security even as it transitions away from fossil fuels to achieve climate goals.
News
December 09, 2022
Russia may cut its oil production in response to the G-7 cap on the price of its crude, President Vladimir Putin said. A decision on Moscow’s response will be announced in a presidential decree within the next several days
News
December 08, 2022
Russia’s Energy Ministry rebuffed concerns that the oil price cap imposed by the Group of Seven nations will throw the country’s production into turmoil.
News
December 07, 2022
Europe is facing high natural gas prices and high uncertainty due to the substantial reduction in Russian imports, according to a new report from Rice University’s Baker Institute for Public Policy.
Article
November 2022
The recovery of U.S. upstream activity is being slowed by high costs for equipment and services, personnel issues, and supply chain shortages, including spare parts.
News
November 27, 2022
Iraq, OPEC’s second largest producer, plans to start increasing oil export capacity from its southern ports from next year to add a total of 1 million to 1.5 million barrels a day by 2025, according to its OPEC delegate.
News
November 23, 2022
Talks between European Union nations on where to set a proposed Group of Seven price cap on Russian oil bogged down Wednesday evening, as governments split over how to design the plan, according to people familiar with the matter.
News
November 20, 2022
The U.S. crude market’s structure is signaling oversupply for the first time in almost a year, the latest indicator of the scale of the dramatic slump in the nearest section of the oil futures market.
News
November 17, 2022
Saudi Arabia has cut oil exports sharply this month as the kingdom delivers on an OPEC+ agreement to shore up global crude markets.
Article
October 2022
Much is at stake in these elections that could help or hurt the health of the U.S. upstream sector. This will be the first election affected by the redistricting that followed the 2020 census. The Republicans are favored to retake a majority in the House, but control of the Senate remains a “tossup.”
