OPEC maintains a positive outlook on the oil market despite the recent price slump, which it attributed...
OPEC maintains a positive outlook on the oil market despite the recent price slump, which it attributed to the "exaggerated negative sentiments" of financial market speculators. The group revised its oil demand growth forecast for 2023 to 2.46 million barrels per day and kept its 2024 oil demand growth forecast unchanged at 2.25 million bpd.
US projects fuel N. American LNG export capacity growth
Development of 10 new projects in the US, Canada, and Mexico...
Development of 10 new projects in the US, Canada, and Mexico will boost North America's liquefied natural gas export capacity from 11.4 Bcf/d now to 24.3 Bcf/d by the end of 2027, according to an Energy Information Administration analysis. Five US projects, including Golden Pass, Rio Grande, and Plaquemines, will lead the expansion, contributing a collective 9.7 Bcf/d to the continent's LNG export capacity.
EIA: US shale oil, gas output to continue downtrend in Dec.
The Energy Information Administration expects US oil production from major shale formations to decline...
The Energy Information Administration expects US oil production from major shale formations to decline for a second consecutive month to 9.652 million barrels per day in December, as Permian Basin growth will be insufficient to offset losses elsewhere. Similarly, shale gas production is projected to fall for a fourth consecutive month in December, by about 0.3 Bcf/d to 99.6 Bcf/d.
Israeli forces reach gates of al-Shifa hospital—Gaza's largest medical facility;...
Israeli forces reach gates of al-Shifa hospital—Gaza's largest medical facility; Israel claims a Hamas command complex lies below the hospital (More) | See our previous write-up (More) | The UN warns fuel shortage in Gaza Strip will shut down relief efforts soon (More)
The Beatles AI-aided song "Now and Then" becomes their record 35th song, and their first since 1996, to reach the top 10 of the Billboard Hot 100 chart (More)
President Biden said hospitals in Gaza must be protected as fighting continued around Gaza City’s main medical facility, Al Shifa Hospital. Israel claims that Hamas has a command complex underneath, which Hamas denies.
Los Angeles is facing even worse traffic than usual after a massive fire over the weekend, which authorities now believe was arson, caused the indefinite closure of Interstate 10.
Google is suing to block alleged scammers from pushing out ads for a fake Google AI chatbot that it claims actually downloaded malware onto people’s computers.
Nepal banned TikTok, saying the app disrupted the country’s social harmony.
Crocs and McDonald’s are releasing a limited-edition shoe collab for when you want to show your devotion to Grimace beyond braving the shake.
Trans Mountain launch to shake up N. America oil market
The anticipated early 2024 startup of Canada's 590,000-barrel-per-day Trans Mountain oil pipeline expansion...
The anticipated early 2024 startup of Canada's 590,000-barrel-per-day Trans Mountain oil pipeline expansion is poised to increase competition for Canadian crude oil barrels, possibly diverting around 470,000 bpd of heavy Canadian sour from existing pipelines such as Enbridge's Mainline and Express pipelines and TC Energy's Keystone pipeline. Consequently, US refiners dependent on Western Canadian Select will be forced to pay a premium for continued access to Canadian crude.
