US crude supplies declined in the past 2 weeks, EIA says
US crude oil stockpiles posted two consecutive weekly declines,...
US crude oil stockpiles posted two consecutive weekly declines, falling by about 400,000 barrels in the week ended June 17 and by 2.8 million barrels last week, the Energy Information Administration reported. Meanwhile, gasoline and distillate inventories added 2.6 million barrels each last week, the EIA said.
EU Imports More U.S. LNG Than Russian Pipeline Gas For The First Time Ever
For the first time ever, the European Union has imported in June more liquefied natural gas (LNG) from...
For the first time ever, the European Union has imported in June more liquefied natural gas (LNG) from the United States than gas via pipeline from Russia, as Moscow slashed supply to Europe earlier this month, Fatih Birol, Executive Director of the International Energy Agency (IEA), said on Thursday.
“Russia’s recent steep cuts in natural gas flows to the EU mean this is the 1st month in history in which the EU has imported more gas via LNG from the US than via pipeline from Russia,” Birol tweeted today, sharing an analysis from the IEA.
“The drop in Russian supply calls for efforts to reduce EU demand to prepare for a tough winter,” the head of the Paris-based agency added.
Russia moves to take control of Sakhalin-2 oil and gas project
Russia has moved to take over a major oil and gas project in which Shell has a 27.5% stake. ...
Russia has moved to take over a major oil and gas project in which Shell has a 27.5% stake. Russian President Vladimir Putin signed a decree on Thursday to take charge of the Sakhalin-2 project.
The move could force Shell and Japan's Mitsui and Mitsubishi to abandon their investments as the economic fallout of the Ukraine war spreads.
Oil giant Shell said: "We are aware of the decree and are assessing its implications."
The decree said a new firm would take over all rights and obligations of Sakhalin Energy Investment.
Benchmark U.S. crude oil for August delivery fell $4.02 to $105.76 a barrel Thursday....
Benchmark U.S. crude oil for August delivery fell $4.02 to $105.76 a barrel Thursday. Brent crude for August delivery fell $1.45 to $114.81 a barrel.
Wholesale gasoline for July delivery fell 18 cents to $3.65 a gallon. July heating oil fell 14 cents to $3.90 a gallon. August natural gas fell $1.08 to $5.42 per 1,000 cubic feet.
OPEC+ Sticks to Oil Output Hikes, Avoids Debate on September Plan
OPEC+ said on June 30 that it would stick to its planned oil output hikes in August but avoided discussing...
OPEC+ said on June 30 that it would stick to its planned oil output hikes in August but avoided discussing policy from September onwards even as prices have risen on tight global supplies and worries that the group has little ability to pump more crude.
The June 30 meeting of the group that includes Saudi Arabia, Russia and other major oil producers was held days before U.S. President Joe Biden travels to the Middle East, including Riyadh where he is expected to press the kingdom for more oil.
At its last gathering on June 2, OPEC+ decided to increase output each month by 648,000 bbl/d in July and August, up from a previous plan to add 432,000 bbl/d per month.
