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The latest IEA’s Monthly Gas Statistics report including October 2024 data shows that for Total OECD: Production of natural gas decreased by 1.0% compared to October 2023. Imports (entries)1 of natural gas remained stable (0.0%) compared to October 2023, and total OECD exports (exits)1 decreased by 0.7% in the same period. Gross consumption of natural …
Oil shipping rates extended their rally on expectations of a tightening in global tanker supply from wider U.S. sanctions on Russia’s fleet and traders’ demand for ships to load Middle East oil for Asia, industry sources said on Wednesday. On Tuesday, Shell booked three Very Large Crude Carriers, capable of carrying up to 2 million barrels of …
Tanker Rates Extend Rally on Sanctions, Demand to Load Mideast Oil, Products Read More »
A judge has dismissed New York City’s lawsuit alleging that Exxon Mobil, BP and Shell were liable for misleading the public about their products, and their commitment to renewable energy and fighting climate change. In a decision on Tuesday, state Supreme Court Justice Anar Patel in Manhattan rejected the city’s argument that the oil companies should …
(Reuters) – OPEC forecast on Wednesday world oil demand in 2026 will rise at a similar rate to this year, while reducing its figure for 2024 for a sixth time, following economic weakness in China, the world’s biggest importer of oil. The 2026 forecast is in line with the Organization of the Petroleum Exporting Countries’ …
In First Look at 2026, OPEC Predicts Ongoing Oil Demand Growth Read More »
(Reuters) – Democratic lawmakers on the U.S. Senate Energy Committee called Tuesday on the panel’s Republican chairman to postpone the confirmation hearing for President-elect Donald Trump’s pick to lead the Department of Energy, citing a paperwork delay. The hearing for Chris Wright is scheduled for Wednesday. Wright plans to step down as CEO and chairman …
Senate Democrats Urge Republican to Delay Hearing for Trump’s Energy Secretary Pick Read More »
By Georgina Mccartney HOUSTON, Jan 14 (Reuters) – Demand to lock in oil and gas prices jumped to a record high on Friday on the AEGIS hedging marketplace, as the harshest U.S. sanctions yet on Russian energy trade sent oil prices to multi-month highs. AEGIS, which says its clients’ business represents about 25-30% of total …
Oil Hedging Hit Record High Last Week After New US Sanctions on Russia Read More »
By Shariq Khan NEW YORK, Jan 14 (Reuters) – Oil prices will be under pressure in 2025 and 2026 as global production growth outpaces demand, the U.S. Energy Information Administration said on Tuesday in its Short-Term Energy Outlook report. Many analysts expect an oversupplied oil market this year, after demand growth slowed sharply in 2024 …
EIA Expects Oil Prices to be Under Pressure From Oversupply in 2025, 2026 Read More »
(Reuters) – The liquefied natural gas (LNG) vessels due to load at two newly sanctioned Russian export terminals are set to deliver their cargoes mostly to Europe and also to Asia, shiptracking data showed on Tuesday. The U.S. on Friday imposed its broadest package of sanctions so far targeting Russia’s oil and gas revenues in …
LNG Vessels Due to Load at Sanctioned Russian Terminals Set for Europe, Asia, Data Shows Read More »
Donald Trump plans to issue a flurry of executive orders and directives after he is sworn in as U.S. president on Monday, to put his stamp on his new presidency on everything from immigration to energy. Two sources familiar with the planning said Trump is preparing a flood of executive orders and directives that could …
Here’s What We Know About Trump’s Planned Executive Orders After Swearing-In Read More »
WASHINGTON (AP) — The Supreme Court said Monday it won’t hear an appeal from oil and gas companies trying to block lawsuits seeking to hold the industry liable for billions of dollars in damage linked to climate change. The order allows the city of Honolulu’s lawsuit against oil and gas companies to proceed. The city’s …
