Survey offers insights into Permian oil boom's future
According to a Bloomberg survey of leading forecasters S&P...
According to a Bloomberg survey of leading forecasters S&P Global, Rystad Energy, Wood Mackenzie and Enverus, the final phase of the Permian Basin oil boom is expected to boost global production by an amount equal to Iran's total output. Permian oil output is forecast to grow by 40% before peaking at 7.86 million barrels per day in 2030, but investor discipline, labor and supply shortages and political risk will likely keep the pace of expansion in check.
Report: US shale set for job boom, wage growth until 2024
Strong production growth and increased operator spending are expected to trigger a job boom and drive...
Strong production growth and increased operator spending are expected to trigger a job boom and drive wage growth in the US shale patch through 2024, Rystad Energy predicts in a new report. Beyond 2024, the report forecasts a potential deceleration in labor demand and wage growth due to reduced operator spending, smaller production increases and the effects of the Federal Reserve's monetary policies.
The energy sector is off to a lower start, pressured by weakness...
The energy sector is off to a lower start, pressured by weakness in the crude complex and the major market futures. U.S equities are expected to open lower amid fears of further interest rate hikes by the Federal Reserve. As earnings season ramps up, Baker Hughes announced first-quarter earnings that beat Wall St expectations as strong oil prices continue to support demand for their services and equipment. UBS analyst Josh Silverstein initiated coverage across 19 oil & gas stocks and assumed coverage over CVX, SLB and XOM.
Oil futures are extending their weekly losses as traders remain focused on the possibility of another modest rate hike. Concerns over a slowing economy and fuel demand outweighed positive Chinese economic data and a draw in crude inventories according to the API. Markets are now pricing in an 86% chance of the Fed raising rates by 25 basis points at its May policy meeting. As anticipated, China's GDP grew by more than expected at 4.5%, for the first quarter and surpassed analyst expectations. Their refinery throughput also rose to record levels in March. Investors will be keeping an eye out for EIA data which will be released later as last night’s API data showed crude stocks fell by 2.68 million barrels last week.
Natural gas futures are lower amid forecasts for cooler temperatures and lower heating demand than previously expected.
The major US cities with the lowest property taxes
LendingTree found out how much homeowners pay for property taxes in 50 of the nation's largest cities....
LendingTree found out how much homeowners pay for property taxes in 50 of the nation's largest cities. Insider broke down the 10 US metropolitan areas with the lowest property taxes, including Charlotte and New Orleans. Find them here.
Benchmark U.S. crude oil for May delivery rose 3 cents to $80.86 a barrel Tuesday. Brent crude for June delivery rose 1 cent to $84.77 a barrel.
Wholesale gasoline for May delivery fell 2 cents $2.75 a gallon. May heating oil fell 1 cent to $2.60 a gallon. May natural gasrose 9 cents to $2.37 per 1,000 cubic feet.
