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Summary OPEC+ JMMC meets on Wednesday at 1100 GMT Producers earlier agreed to extend output cuts Oil rallies to $89 a barrel, highest this year LONDON, April 3 (Reuters) – An OPEC+ ministerial panel is unlikely to recommend any oil output policy changes at a meeting later on Wednesday, three OPEC+ sources told Reuters, following …
OPEC+ Unlikely to Change Output Policy at Panel Meeting Read More »
Key energy fund XLE outperformed Nasdaq 100 in first quarter ‘Investor sentiment could go either way,’ Dan Pickering says Big tech may be driving the stock market, but after a blow-out first quarter, big oil would like a word. After finishing 2023 in the red as the broader market soared, energy stocks have started 2024 with …
Big Oil Is Beating Big Tech as Eyes Turn to Crucial OPEC Meeting Read More »
Executives remain steadfast in their criticism even as many fossil-fuel companies thrive. The anonymous comments from shale-oil executives in the Federal Reserve Bank of Dallas’ quarterly energy survey are rarely complimentary to President Joe Biden and his policies. The remarks in last week’s edition, however, were particularly notable given the apparent state of the market. The US …
Oil Bosses Rip Biden Policies Even as U.S. Production Soars Read More »
Reactor company Oklo talking to drillers including Diamondback Nuclear power can reduce emissions from producing fossil fuels US oil companies including Diamondback Energy Inc. are considering small nuclear reactors to power drilling operations in Texas’s Permian Basin, a move aimed at cutting carbon emissions and ensuring reliable access to electricity. Diamondback, the largest independent producer headquartered in …
U.S. Shale Drillers Seek to Power Oil Patch With Small Nuclear Reactors Read More »
Summary OPEC+ JMMC meets on Wednesday at 1100 GMT Producers earlier agreed to extend output cuts Oil rallies to $89 a barrel, highest this year (Reuters) – An OPEC+ ministerial panel is unlikely to recommend any oil output policy changes at a meeting on Wednesday, five OPEC+ sources told Reuters, as oil prices hit their …
OPEC+ Unlikely to Change Output Policy at April 3 Meeting Read More »
Global road oil demand will rise 5% to a peak of 50 million barrels per day by 2032, Goldman Sachs forecasts, with oil use per vehicle likely to fall sharply because electric vehicles are expected to account for more than half of auto sales by 2040. The investment bank sees global road oil demand edging …
Road Oil Demand to Peak by 2032 as EVs Become More Popular, Goldman Forecasts Read More »
U.S. oil refiners are expected to have about 1.1 million barrels per day (bpd) of capacity offline for the week ending April 5, increasing available refining capacity by 29,000 bpd, research company IIR Energy said on Monday. Offline capacity is expected to fall to 847,000 bpd in the week ending April 12, IIR added. The …
U.S. Oil refiners’ Weekly Capacity Seen Up 29,000 Bpd, IIR Says Read More »
(Reuters) – Oil prices were steady on Monday near five-month highs as markets expect tighter supply from OPEC+ cuts and attacks on Russian refineries while upbeat Chinese manufacturing data supported an improving demand outlook. Brent crude was 10 cents lower at $86.90 a barrel by 1115 GMT after rising 2.4% last week. U.S. West Texas …
Oil Stays Near Five-Month Highs as Tighter Supply Looms Read More »
U.S. crude oil production fell in January to 12.533 million barrels per day (bpd), a 6% decline from December following cold weather that froze in some production, data from the Energy Information Administration showed on Friday. Crude oil output in Texas also fell in January to 5.361 million bpd, down about 5% from the month …
U.S. Crude Oil Production Declined in January – EIA Read More »
SilverBow Resources Inc. says an offer by activist investor Kimmeridge Energy Management Co. to combine the Texas oil and natural gas producer with its own unit is far too low. The Houston-based company said in a letter to shareholders Thursday that Kimmeridge’s unsolicited offer to combine its Texas gas assets with SilverBow in exchange for 32.4 million shares priced at …
Gas Producer SilverBow Says Kimmeridge Offer Is Far Too Low Read More »
