Oil and Gas Prices
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.
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.
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.
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.
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.
