LONDON (Bloomberg) by Grant Smith. As one of the most tumultuous years in oil’s history ends, a delicate task now confronts OPEC+....
Casper Star-Tribune. By Camille Erickson Via Wyoming News Exchange. CASPER – Rigs and the ubiquitous heads of pumpjacks, usually faithfully bobbing up...
S&P Global – After years of punishment as the shale gas boom imploded, many shale gas stocks outperformed major indexes and their...
RigZone.com. By Andreas Exarheas – Pacific Drilling S.A. (OTC: PACDQ) has announced that the United States Bankruptcy Court for the Southern District...
By: J. Robinson – S&P Global Platts – A steep drop in Permian gas production this year is driving a significant shift...
By: Jensen Werley – Denver Business Journal – QEP Resources (NYSE: QEP), a Denver-based oil and gas company, is being acquired by...
By: Camille Erickson – Casper Star-Tribune – An oil and gas lease sale held last week in Wyoming by the Bureau of...
By: Storme Jones – News On 6 – The Seminole Nation of Oklahoma sent energy companies within tribal boundaries a letter notifying...
By: Judith Kohler – The Denver Post – SandRidge Energy is selling its operations in Colorado’s North Park for $47 million to Gondola...
By: Arunima Jumar – Reuters – U.S. oil refiner Phillips 66 on Monday set its 2021 capital budget at $1.7 billion, around...
OPEC, the Organization of the Petroleum Exporting Countries, was founded in Baghdad, Iraq, in 1960 to coordinate oil policy among major oil exporters. Initially a reaction to Western dominance of global oil markets, it evolved into a powerful bloc capable of reshaping global energy prices, geopolitics, and development.OPEC works by setting production quotas for each member country. By coordinating supply cuts or increases, the group can tighten or loosen global oil supply, pushing prices up or down.
Federal Reserve Chair Jerome Powell is likely to muster a slim majority of his colleagues to support a 25-basis-point cut in interest rates on Wednesday, fueled by growing concern about the health of the economy, experts say. But given the turmoil around the central bank and uncertainty about the direction of inflation and the job market, the bigger question regarding the meeting is what happens next.
Powell is likely to face a level of internal opposition he has never seen before. Some of his colleagues have signaled they want a larger rate cut because of the weaker labor market. Others may opt for no change in rates because of recent gnarly inflation readings. It’s possible both sides will formally dissent.
The U.S. stock market closed mixed Friday, with the technology-heavy Nasdaq Composite booking a fresh record high.
The Nasdaq rose 98.03 points, or 0.4%, to end at 22,141.10.
The S&P 500 slipped 3.18 points, or less than 0.1%, to finish at 6,584.29.
The Dow Jones Industrial Average fell 273.78 points, or 0.6%, to close at 45,834.22.
Friday's rally in Big Tech stocks added to the tech sector’s strong rise this week within the S&P 500. All three major equity benchmarks ended the session with weekly gains, with investors anticipating that the Federal Reserve will decide next week to lower interest rates.
The Dow booked a weekly increase of 1%, while the S&P 500 advanced 1.6% and the Nasdaq climbed 2%. The S&P 500 and Nasdaq each finished Friday with back-to-back weekly gains, according to Dow Jones Market Data.
By Michael Kern for Oilprice.com | TotalEnergies, along with its partners QatarEnergy and the national...
Source: EIA | Between 2020 and 2024, total crude oil and lease condensate production...
Canadian midstream operator Enbridge has approved final investment decisions on two new gas transmission...
Ian M. Stevenson | EENews.net | Falling royalty rates for oil and gas production...
By Felicity Bradstock for Oilprice.com | Following the massive growth in global renewable energy...
Targa Resources Corp. has launched a non-binding open season for its proposed Forza Pipeline...
Diversified Energy Company Plc has announced a $550 million acquisition of Canvas Energy, a...
Reporting by Gavin Maguire | (Reuters) – U.S. power developers are planning to sharply...
Authored by Jill McLaughlin via The Epoch Times, | California regulators fearing a dramatic...
Data centers across the United States are increasingly grappling with one of the most...
The U.S. oil and gas industry is entering a period of retrenchment, marked by...
[energyintel.com] A data center boom in the US is straining the grid and pushing...
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