What You Should Know About Oil and Gas Today The State of Play The OPEC+ member countries will apparently meet a week earlier than expected as Russia and Saudi Arabia near a deal to extend the group's deep initial supply cuts for "a month or two" longer. Originally scheduled for June...
Save America’s Oil and Gas Industry
What You Should Know About Oil and Gas Today The State of Play Welcome to June, everyone, and mob rule in America's major cities. Amid all of the social unrest and lack of state, local and national leadership, America's oil and gas industry appears set on a path to recovery, although...
EPA Regulation Rollbacks and the Fossil Fuel Industry
With the reopening of the country and the world, it is time for the climate-change extremists to get back to work just like everyone else. The Union of Concerned Scientists recently seemed to be particularly up in arms over two things that are closely related. The first being an...
One of the many outcomes of the COVID-19 pandemic is that the cost of shipping crude oil overseas has collapsed. According to a report in the Wall Street Journal today, the average price for chartering oil tankers has fallen by 77% since March as a result of the massive cuts in supply in response to the crash in oil prices.
What You Should Know About Oil and Gas Today The Big Story One of the many outcomes of the COVID-19 pandemic is that the cost of shipping crude oil overseas has collapsed. According to a report in the Wall Street Journal today, the average price for chartering oil tankers has fallen...
Russia and OPEC Consider Extending Production Cuts
OPEC and the OPEC+ countries consented to implementing production cuts after the onset of the world economic shutdown due to COVID-19. And Russia and OPEC managed to set aside their price war, at least for the time being, for the global common good. It was agreed that the OPEC+...
Crude prices fell by almost 5% overnight in response to increases in U.S. inventories for oil, gasoline and heating oil.
10 Things You Should Know About Oil and Gas Today The Big Story Crude prices fell by almost 5% overnight in response to increases in U.S. inventories for oil, gasoline and heating oil. As reported by Reuters: Oil prices fell in early trade on Thursday after US crude, gasoline and heating oil...
Russian Oil Minister does not want to continue production cuts into July and beyond
10 Things You Should Know About Oil and Gas Today The Big Story Russian Oil Minister Alexander Novak told a meeting of major oil producers on Tuesday that his country does not support proposals to extend the May/June production cuts of 10 million barrels of oil per day (bopd) in the...
The price for a barrel of West Texas Intermediate jumped above $34 in early trading on Monday, as optimism continues to grow about a rapid U.S. and global economic recovery.
10 Things You Should Know About Oil and Gas Today The Big Story The price for a barrel of West Texas Intermediate jumped above $34 in early trading on Monday, as optimism continues to grow about a rapid U.S. and global economic recovery. The leap in crude prices was reflected in...
DOE Accepting Applications for Crude Oil Storage
The U.S. Department of Energy (DOE) is looking to test the oil market by purchasing one million barrels of sweet crude oil for the Strategic Petroleum Reserve (SPR). They will be accepting applications from small and mid-sized U.S. oil producers only. The bids must be in by 5/27 with...
Goldman Sachs is projecting the fallout from COVID-19 will return the global supply equation for crude oil “Back to the 90s“.
10 Things You Should Know About Oil and Gas Today The Big Story Goldman Sachs is projecting that the fallout from the COVID-19 pandemic will return the global supply equation for crude oil "Back to the 90s", with OPEC back in the driver's seat and supply growth outside of that cartel...
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