Oil and Gas Prices
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.”
Article
October 2022
Since day one, the Biden administration has set the U.S. on a path toward more reliance on foreign energy from countries with lower environmental standards. Caving to green activists, President Biden launched an overly aggressive environmental campaign designed to phase out the U.S. hydrocarbon industry and the immense value it provides our country in terms of energy independence and employment opportunities.
News
November 14, 2022
Due to a weaker economic backdrop and China’s strict anti-Covid measures, OPEC lowered estimates for the amount of crude it will need to pump this quarter by 520,000 bpd, following a similar-sized downgrade a month ago.
News
November 10, 2022
India is suddenly facing an LNG glut as the nation’s customers rush to alternatives to pricey natural gas. Scheduled LNG deliveries may need to be delayed as storage tanks are nearing maximum capacity, traders said.
News
November 09, 2022
West Texas Intermediate fell 3.5% Wednesday on rising U.S. crude inventories while China struggles to contain rising Covid cases.
News
November 09, 2022
China's passion for Alaskan oil appears to be over as the country turns to Russia for oil that is being sold at a discount due to sanctions. Alaskan crude has traded at its biggest premium to WTI since 2014.
News
November 08, 2022
The split in the European Union is deepening over how to contain an energy crisis, with nations supporting a price cap on imported natural gas accusing the bloc’s executive of being too slow to develop a proposal to limit the costs of the fuel.
News
November 06, 2022
One day after a cordial meeting between oil executives and President Joe Biden, the industry was blindsided by his attack on its profit and charges of war profiteering. It was just the kind of whiplash that has repeatedly sown mistrust and tension in the industry.
News
November 04, 2022
Oil closed at the highest level since August as markets rallied over China easing its Covid restrictions, with Brent crude posting its third straight weekly gain.
News
November 04, 2022
The Czech Republic imposed its first windfall tax on some of the biggest businesses to help finance energy subsidies without boosting government borrowing. The 60% "surcharge" will be in place for three years.
News
November 03, 2022
Natural gas use is surging in Spain, offering an insight into the possible unintended consequences of capping fuel prices to shield the country’s households and businesses from the energy crisis.
News
November 02, 2022
President Joe Biden’s threat to slap a tax on oil-company profits is more bluster than threat as the clock runs out on the administration’s efforts to tame fuel prices ahead of midterm elections.
News
October 31, 2022
An excess of supply in the oil market was the main reason for OPEC+ opting to cut production in October, according to the group’s secretary-general.
News
October 27, 2022
House Republicans are launching an investigation into what they say could be the “potential misuse” by the Biden administration of the nation’s emergency oil reserves to lower gasoline prices, as well as White House deliberations over a fuel-export ban.
News
October 19, 2022
OPEC+’s decision to cut oil production will hurt the global economy and add to inflationary pressures, a senior U.S. official said during a visit to the Middle East.
News
October 18, 2022
The Biden administration is moving toward a release of at least another 10 million to 15 million barrels of oil from the nation’s emergency stockpile in a bid to balance markets and keep gasoline prices from climbing further, according to people familiar with the matter.
News
October 13, 2022
Saudi Arabia rejected criticism of last week’s OPEC+ decision to cut oil production quotas, saying the move was based solely on “its noble objectives” to avoid oil-market volatility and denying the kingdom was taking a stance against the U.S.
News
October 11, 2022
Decisions of the Organization of Petroleum Exporting Countries and its allies are designed to stabilize global energy markets and are not targeted against anyone, Russian President Vladimir Putin insisted.
News
October 10, 2022
The U.S. has accused Saudi Arabia of siding with Russia after it led OPEC+ in a shock decision to slash crude output, keeping oil prices high at a time of global concern about inflation. The world’s largest oil exporter insists the decision was about economics, not politics.
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.
