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Oil Market Tightening Said Imminent As OPEC-plus Extends Cuts Another Month

Oil Market Tightening Said Imminent As OPEC-plus Extends Cuts Another Month

The Organization of the Petroleum Exporting Countries and its allies, aka OPEC-plus, on Saturday agreed to extend May and June oil supply cuts for another month to continue rebalancing an oversupplied global crude market.

June 8, 2020
OPEC, Allies Extend Supply Cuts Another Month, Signaling Tightened Market Ahead

OPEC, Allies Extend Supply Cuts Another Month, Signaling Tightened Market Ahead

The Organization of the Petroleum Exporting Countries and its allies, aka OPEC-plus, on Saturday agreed to extend May and June oil supply cuts for another month to continue rebalancing an oversupplied global crude market.

June 8, 2020
Senate Energy Chair Wants DOE to Shine Spotlight on Possible Oil Production Shut-Ins

Senate Energy Chair Wants DOE to Shine Spotlight on Possible Oil Production Shut-Ins

Lisa Murkowski (R-AK), chairman of the Senate Energy and Natural Resources committee, is urging the Department of Energy’s Energy Information Administration (EIA) to publish data on oil storage capacity as a warning indicator of potential shut-in oil production.

April 1, 2020
Senate Energy Chair Wants DOE to Shine Spotlight on Possible Oil Production Shut-Ins

Senate Energy Chair Wants DOE to Shine Spotlight on Possible Oil Production Shut-Ins

Lisa Murkowski (R-AK), chairman of the Senate Energy and Natural Resources committee, is urging the Department of Energy’s Energy Information Administration (EIA) to publish data on oil storage capacity as a warning indicator of potential shut-in oil production.

April 1, 2020
Saudi Oil Alliance One Possibility to End Global Price War, Says Brouillette

Saudi Oil Alliance One Possibility to End Global Price War, Says Brouillette

The Trump administration is considering a host of potential resolutions to the oil price war currently wreaking havoc on global markets, including luring Saudi Arabia away from the Organization of the Petroleum Exporting Countries (OPEC) and into an alliance with the United States, according to U.S. Energy Secretary Dan Brouillette.

March 24, 2020
U.S. Should Embargo Russian, OPEC Oil, Says North Dakota Senator

U.S. Should Embargo Russian, OPEC Oil, Says North Dakota Senator

The United States should embargo oil from Russia and Organization of the Petroleum Exporting Countries (OPEC) nations in response to their efforts “to distort energy markets,” according to Sen. Kevin Cramer (R-ND).

March 20, 2020

U.S. Natural Gas, Oil Industry Still Cautious, but Crude Rally Short-Lived After Latest Iranian Attack

Following an Iranian attack on U.S. forces stationed in Iraq late Tuesday further ratcheted up tensions, natural gas and oil pipeline operators across the United States are on guard against potential threats, including from cybersecurity efforts.

January 8, 2020

Crude Oil Rally May Have Staying Power as Iraqi Attacks Stoke Supply Fears

Fears of escalation in the Middle East following a U.S. attack in Iraq early Friday, which killed a high ranking Iranian military leader, could support a sustained move higher for crude oil prices, which jumped 4% on Friday.

January 3, 2020
Natural Gas Downside Seen as Saudi Attack Serves Up Stark Reminder of Oil’s Geopolitical Risks

Natural Gas Downside Seen as Saudi Attack Serves Up Stark Reminder of Oil’s Geopolitical Risks

A major attack on Saudi Arabia’s oil infrastructure over the weekend rocked crude prices, sounding an alarm that markets may have previously discounted the extent of geopolitical risks to supply, according to analysts.

September 16, 2019
LNG Figures Big as Global FIDs for Oil, Gas Projects Set to Triple in ’19

LNG Figures Big as Global FIDs for Oil, Gas Projects Set to Triple in ’19

A surge in sanctioning oil and natural gas projects worldwide is set to nearly triple from 2018, with more than one-third centered around natural gas export facilities, according to an analysis Rystad Energy.

February 22, 2019
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