US oil refining capacity recovers after pandemic slump
A newly released government report shows that US oil refining...
A newly released government report shows that US oil refining capacity has rebounded by over 100,000 barrels per day to 18.1 million bpd as of Jan. 1 after declining for two years due to the coronavirus pandemic. The increase in capacity was driven by expansions undertaken by Marathon Petroleum and Citgo Petroleum and does not take into account ExxonMobil's 250,000-bpd expansion at its Beaumont, Texas refinery, which came online in March.
Natural Gas price is in a long-term downtrend since turning lower at the $9.960 MMBtu peak achieved...
Natural Gas price is in a long-term downtrend since turning lower at the $9.960 MMBtu peak achieved in August 2022. That said, bearish momentum has tapered off considerably since February 2023.
The EIA Natural Gas Storage report on Thursday showed a rise to 95 billion cubic feet (bcf) in the week to June 16, when a lower 91 bcf had been forecast from 84 bcf recorded in the previous week.
The data suggests robust supply in the US and as a result natural gas prices are trending lower Friday morning, trading down 7 cents at $2.63 per MMBtu.
Conditions ripe for oil, gas price increases in near future
Crude oil supplies will tighten and oil prices will increase in the coming months due to sluggish US...
Crude oil supplies will tighten and oil prices will increase in the coming months due to sluggish US oil production growth and OPEC+ supply cuts, said EOG Resources Chief Operating Officer Lloyd Helms at a JPMorgan energy conference. Similarly, reduced drilling activity in shale gas basins could benefit gas prices, Helms noted.
Shale drilling challenges take center stage at conference
Advancements in technology and development strategies have streamlined shale production, but the relentless...
Advancements in technology and development strategies have streamlined shale production, but the relentless pursuit of optimization has compounded the complexity and difficulty of drilling and completion operations, particularly in the Haynesville Shale, according to panelists at the recent Unconventional Resources Technology Conference. Factors like geological and geographical constraints, stage spacing, lateral length and frac efficiency contribute to production variations and other challenges faced by the industry.
US stock futures fall early Friday, as investors...
US stockfutures fall earlyFriday, as investors continue to digest Federal Reserve Chair Jerome Powell's comments that further rate hikes are likely. Check out the latest market moves.
Earnings on deck: CarMax and Apogee Enterprises, are both reporting.
