Refracs? From OilPrice.com. A global oil shortage and high fuel prices have triggered calls from President Joe Biden’s administration for U.S. shale...
I have argued in a succession of OilPrice articles, here, here, and here, that the era of rapid growth in shale production output was coming...
By: Reuters – British Prime Minister Rishi Sunak is poised to announce a major natural gas deal with the United States after...
By: Reuters – The global liquefied natural gas (LNG) market is undergoing a triple flattening, with prices, volumes, and seasonality leveling off...
HOUSTON (Reuters) – Exxon Mobil Corp will take up to a $2 billion loss on the highly leveraged sale of a troubled...
By: Bloomberg – A high-resolution satellite image taken less than 48 hours ago appears to show methane releases from China’s largest oilfield....
After six months of rising oil and gas tax revenues, Eddy County, New Mexico Finance Director Roberta Smith predicted a dip in...
By: Reuters – The German navy is helping Norway to protect critical maritime infrastructure such as oil rigs, undersea cables, and pipelines,...
By: Reuters – Chesapeake Energy on Wednesday said inflation in the fastest-growing U.S. shale gas region could surpass 15% next year, a...
Story By Emily Patsy. Marathon Oil Corp. agreed to acquire Ensign Natural Resources on Nov. 2, nearly doubling the Houston-based company’s position...
(Reuters) - Oil prices edged down on Monday as investors weighed easing Middle East risks and a possible OPEC+ output increase in August.
Both Brent and U.S. crude oil benchmarks posted their biggest weekly declines since March 2023 last week but rose for the second consecutive month, gaining around 6% and 7% respectively.
Brent futures settled down 16 cents, or 0.2%, to $67.61 a barrel and expired on Monday. The more active September contract ended at $66.74.
U.S. West Texas Intermediate crude settled down 41 cents, or 0.6%, at $65.11 a barrel.
A 12-day war that started with Israel targeting Iran's nuclear facilities on June 13 sent prices above $80 a barrel before sliding back to $67.
"This ceasefire that was quickly engineered appears to be holding up, so the supply risk premium that was in place is continuing to be withdrawn in a rapid fashion," said John Kilduff, a partner at Again Capital.
Meanwhile, U.S. crude oil production hit a record 13.47 million barrels per day in April, up from 13.45 million bpd in March, according to data released by the Energy Information Administration as part of its Petroleum Supply Monthly series.
The record U.S. oil production was adding to the bearish sentiment on Monday, Kilduff added.
U.S. stocks ended higher on Monday on optimism around trade talks ahead of July 9 — the expiration date of the Trump administration’s 90-day tariff pause that started on April 2.
The Canadian government announced on Sunday night that it would scrap its digital services tax on U.S. tech companies, which had prompted President Trump to halt trade negotiations between the two countries.
The Dow Jones Industrial Average went up 275.50 points or 0.6% on Monday to end at 44,094.77 for its third straight daily gain, according to Dow Jones Market Data. The index advanced 1,824.70 points or 4.3% for the month and it rose 2,093.01 points or 5% for the quarter.
The S&P 500 rose 31.88 points or 0.5% to close at 6,204.95 on Monday, a record high and its third straight daily gain. The index increased 593.10 points or 10.6% for the quarter, its largest one-quarter percentage gain since the fourth quarter of 2023. It went up 293.26 points or 5%.
The Nasdaq Composite rose 96.27 points or 0.5% to finish at 20,369.73 on Monday, also setting a fresh record and posting its sixth straight daily gain. The index advanced 3,070.45 points or 17.8% for the quarter, its largest one-quarter percentage gain since the second quarter of 2020. It rose 1,255.97 points or 6.6% for the month.
Bill Armstrong isn’t following the industry playbook. As U.S. shale producers consolidate and shrink...
Haynesville Gas Takeaway Grows With Leg Pipeline Launch (P&GJ) — Williams Companies has placed its...
Yuka Obayashi and Katya Golubkova | TOKYO (Reuters) -U.S. President Donald Trump said on...
The newly unveiled U.S.–EU energy framework, announced during the July 27–28 summit in Brussels,...
by Andreas Exarheas| RIGZONE.COM | Chevron will “consolidate or eliminate some positions” as part of...
The U.S. oil and gas industry is riding a line between productivity and paralysis....
Presidio Petroleum is preparing to enter the public markets through a strategic merger with...
By Haley Zaremba for Oilprice.com | The United States electric vehicle industry is facing...
Trying to catch up in oil and gas production is difficult enough. It becomes...
Author Mark Davidson, Washington|Editor–Everett Wheeler|Energy Intelligence Group| The number of active US gas rigs...
(Reuters) – U.S. gasoline demand in May fell to the lowest for that month...
by Bloomberg, via RigZone.com|Weilun Soon, Rakesh Sharma, Reporting| At least four tankers discharged millions...
Have your oil & gas questions answered by industry experts.