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Summary IEA’s current policies scenario shows no oil demand peak before 2050 LNG supply to grow 50% by 2030 US has criticized the IEA for clean energy focus IEA says target to limit temperature rise at 1.5C out of reach (Reuters) – Global oil and gas demand could grow until 2050, the International Energy Agency …
World Oil and Gas Demand Could Grow Until 2050, IEA Says Read More »
Oil and gas producer Occidental Petroleum said on Tuesday it expects flat production growth in 2026 and spending to fall below current-year levels, as crude prices slide. U.S. shale producers are weathering a global oil slump, with prices hovering in the low $60-per-barrel range, pressured by OPEC+ output hikes and slowing global demand. Benchmark Brent …
Occidental Petroleum Forecasts Flat Production, Lower Spending in 2026 Read More »
RIO DE JANEIRO, Nov 10 (Reuters) – Organized workers from Brazilian state-run oil firm Petrobras (PETR3.SA), opens new tab rejected a work agreement offered by the company and its subsidiaries, which prompted the approval of a “state of strike,” the workers’ union said in a statement on Monday. According to the union, the motion approved …
Brazilian Oil Firm Petrobras’ Workers Approve Potential Strike Read More »
Summary Chevron to provide guidance through end of this decade Oil firm has opportunities for growth after Hess Investors eye updates on Kazakhstan talks and new power ventures Reuters) – When Chevron executives and top shareholders convene in New York City on Wednesday for the oil producer’s investor day, portfolio managers will be eager to hear …
Chevron Investor Day Puts Spotlight on Post-Hess Strategy Read More »
By Erwin Seba US crude stocks rose more than expected last week Private reports suggest US labor market weakened in October Gunvor withdraws proposal to buy Lukoil’s overseas assets HOUSTON, Nov 7 (Reuters) – Crude prices fell off session highs as demand for jet fuel turned soft ahead of the holiday travel season because the …
Crude Off Session Highs; Canceled US Flights Rein in Jet Fuel Read More »
By Scott Disavino Rig count still 6% below last year, despite recent increase Gas rigs reach highest level since August 2023 EIA projects rise in crude and gas output in 2025 NEW YORK, Nov 7 (Reuters) – U.S. energy firms this week added oil and natural gas rigs for the third time in four weeks, …
US Drillers Add Oil and Gas Rigs for Third Time in Four Weeks, Says Baker Hughes Read More »
The Trump administration will hold an auction for drilling oil and gas off the U.S. Gulf next month and has proposed another in a waterway in southern Alaska, it said on Friday. The lease sale in the U.S. Gulf of Mexico, which President Donald Trump refers to as the Gulf of America, will make about …
Trump Finalizes US Gulf Oil Lease Sale, Proposes Alaska Sale in 2026 Read More »
(Reuters) – Global investments in renewable energy aren’t bearing fruit and the world should focus on securing reliable supplies of fossil fuels, U.S. energy and interior secretaries said this week as they worked on convincing Europe to buy more U.S. oil and gas. The U.S. has become Europe’s top oil and gas supplier on the …
US Urges Europe to Stick to Oil and Gas, Not Renewables Read More »
(Reuters) – The volume of oil stored onboard ships in Asian waters doubled in recent weeks after tightening western sanctions hit imports from China and India and as a shortage of import quota curbed demand from independent Chinese refiners, analysts said. The European Union, United Kingdom and the United States have imposed a raft of …
Asia Oil Floating Storage Surges as Sanctions, Tight China Quota Curb Demand Read More »
By David Wethe and Kevin Crowley A pumpjack and drill rig over an oil well in the Permian Basin near Midland, Texas. Photographer: Daniel Acker/Bloomberg US shale companies are forging ahead with their production plans, adapting to $60 oil prices while grinding out small increases and setting up the industry to add to next year’s …
Shale Operators Defy $60 Oil to Keep Increasing Production Read More »
