Oil Holds Advance as Traders Wait for Next OPEC+ Moves on Supply
(Bloomberg) -- Oil traded near the highest level this year after a surge driven by supply cuts from OPEC+...
(Bloomberg) -- Oil traded near the highest level this year after a surge driven by supply cuts from OPEC+ that have tightened the market.
Global benchmark Brent was little changed below $89 a barrel after a five-day advance that lifted futures by more than 5%. US crude counterpart West Texas Intermediate, meanwhile, held above $85 a barrel.
Crude has rallied by about a quarter since late June as the impact of the supply reductions — which have been led by Saudi Arabia and Russia — worked their way through the market. Riyadh and Moscow are expected to announce their next steps in the coming days, with the cuts expected to be extended.
Industry fights to keep gas flowing to new Colo. homes
Major oil and gas producers are once again backing a push for a 2024 ballot initiative to prevent Colorado...
Major oil and gas producers are once again backing a push for a 2024 ballot initiative to prevent Colorado communities from banning natural gas hookups in new buildings. "Banning natural gas hookups for kitchen stoves, furnaces, and water heaters is part of a national movement to ban the oil and natural gas industry under the guise of fighting climate change," says Protect Colorado spokesperson Laurie Cipriano.
EIA: US crude oil output back at pre-pandemic levels
US crude oil production reached levels last seen in the run-up...
US crude oil production reached levels last seen in the run-up to the coronavirus pandemic at 12.844 million barrels per day – an increase of some 1.6% – according to data from the Energy Information Administration. Production across the country was mixed, with Texas output rising 1.1% to a record 5.518 million bpd, North Dakota recording a 3.3% gain to 1.155 million bpd, and output in New Mexico falling 2.1% to 1.764 million bpd. A similar pattern emerged with gross natural gas production, with Texas and Pennsylvania setting production records while overall production slipped.
Jimmy Buffett, the singer, songwriter, author, sailor, and entrepreneur...
Jimmy Buffett, the singer, songwriter, author, sailor, and entrepreneur whose roguish brand of island escapism on hits like “Margaritaville” and “Fins” made him something of a latter-day folk hero, especially among his devoted following of so-called Parrot Heads, died on Friday. He was 76.
His death was announced in a statement on his website. The statement did not say where he died or specify a cause.
REUTERS: US drillers cut oil and gas rigs for eighth week in a row
U.S. energy firms this week cut the number...
U.S. energy firms this week cut the number of active oil and natural gas rigs for an eighth week in a row. The total oil and gas rig count, an early indicator of future production, fell by one to 631in the week to Sept. 1, its lowest since February 2022.
U.S. oil rigs were unchanged at 512 this week, holding at its lowest since February 2022, while gas rigs fell one to 114, their lowest since January 2022.
U.S. oil futures were up about 6% so far this year after gaining about 7% in 2022. U.S. gas futures, meanwhile, have plunged about 37% so far this year after rising about 20% last year.
