US oil and gas production hit record high in December, says EIA
U.S. crude oil and natural gas output set records in December, and...
U.S. crude oil and natural gas output set records in December, and oil demand touched multi-month highs, the U.S. Energy Information Administration said in its Petroleum Supply Monthly report on Friday.
Crude oil output hit 13.491 million barrels per day (bpd) in December, up from 13.314 million bpd in November and topping the prior all-time high of 13.436 million in October, the EIA said.
Oil output in Texas, the largest producer in the country, fell 1.3% from November to 5.72 million bpd in December, the lowest since July, while New Mexico output rose to a record-high 2.11 million bpd, EIA data showed.
Gross natural gas production in the U.S. Lower 48 states rose by 2.0% in December to a record 118.5 billion cubic feet per day (bcfd), according to the agency's 914 production report.
Trump's tariffs on Mexico, Canada to take effect Tuesday
Previously announced 25% tariffs on goods from Mexico and Canada will...
Previously announced 25% tariffs on goods from Mexico and Canada will take effect today as well as an additional 10% tariff on Chinese imports, said President Donald Trump, citing insufficient progress in curbing the flow of fentanyl into the US. The move coincides with China's annual parliamentary meetings, potentially escalating tensions as Beijing has yet to announce countermeasures. Mexican and Canadian officials are in Washington to discuss the tariffs.
The Haynesville Shale will play a key role in meeting new natural gas...
The Haynesville Shale will play a key role in meeting new natural gas demand from upcoming LNG export facilities, but operators are unlikely to boost production until prices reach at least $5 per Mcf, according to energy executives and analysts. Even then, infrastructure constraints could cap its new supply contribution at just 4 to 6 Bcf/d.
Anthropic secures $61.5 billion valuation after funding round
The company behind the AI chatbot Claude ...
The company behind the AI chatbot Claude raised $3.5 billion from investors including Salesforce, Cisco, Jane Street, and Fidelity. With the new funds, Anthropic wants to expand its computational capacity and its presence in Asia and Europe. Also included in the funding update was confirmation that Amazon’s new Alexa+ personal assistant is powered by Claude. Amazon’s stake in Anthropic is currently worth approximately $8 billion.
DOGE erased or altered 40% of the contracts listed on its website. The...
DOGE erased or altered 40% of the contracts listed on its website. The “wall of receipts” maintained by the government efficiency initiative removed or changed a significant amount of its claims of taxpayer savings, according to the New York Times, including “five of the seven largest savings that it had claimed credit for just last week.” DOGE first posted on Feb. 19 that it had clawed back $16 billion. Since then, the total has been revised to less than $9 billion. But the wall is not a complete reckoning. The DOGE website now includes language putting responsibility for the reported dollar amounts on federal agencies, saying the figures “originate directly from agency contracting officials.”
Honor, a Chinese smartphone manufacturer, rolled out a device with deepfake detection technology ahead of the Mobile World Congress.
James Harrison, a blood donor from Australia who had a rare antibody that saved 2.4 million babies, died at age 88.
RFK Jr. voiced support for the measles vaccine amid the deadly outbreak in Texas.
Kroger Chairman and CEO Rodney McMullen stepped down following a board investigation into his personal conduct, which the supermarket giant said was unrelated to the company’s business.
Kremlin Spokesperson Dmitry Peskov said the Trump administration “largely aligns with our vision.”