U.S. crude oil exports hit an all-time high last year of 3.6 million b/d amid upheaval in global energy markets, according to the U.S. Energy Information Administration (EIA). EIA said U.S. oil exports increased by 22% year/year, or 640,000 b/d, in 2022. An increase in U.S. crude production, releases from the nation’s Strategic Petroleum Reserve…
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Lower 48 Plays to Add 400 MMcf/d of Production from February to March, EIA Says
With the Haynesville Shale continuing to serve as the biggest driver of projected onshore natural gas production growth, output from seven key Lower 48 plays is poised to grow by 426 MMcf/d from February to March, according to the Energy Information Administration (EIA). In its latest Drilling Productivity Report (DPR), published Monday, the agency modeled…

Texas Upstream Employment on A Roll, with 2,800 Jobs Added in October
Upstream oil and natural gas employment in Texas grew in October, with 2,800 jobs added for the month, according to state data. The gains in oil and gas extraction, as well as support jobs, were even more impressive after the Texas Workforce Commission (TWC) revised upward the job gains in September to 2,200 from an…

Shock OPEC-Plus Production Cut Galvanizes Fresh Support for Bill Targeting Cartel Price Fixing
The consortium of oil-producing countries known as OPEC-Plus spurred rare bipartisanship in the U.S. capital after the cartel said it would slash crude production. The group said last week its decision to cut output by 2 million b/d in November was in response to global recessionary headwinds and threats to demand. But Washington lawmakers on…

Domestic Crude Production Falls as Recession Threats Intensify, Prices Pull Back
U.S. oil output declined last week as prices descended and concerns mounted about global recession and geopolitical tumult tied to Russia’s invasion of Ukraine. Production for the week ended Sept. 23 declined by 100,000 b/d to 12.0 million b/d, the U.S. Energy Information Administration (EIA) said Wednesday in its Weekly Petroleum Status Report. The drop…

Domestic Oil Production Rises Alongside Bump in Demand
U.S. crude production ticked up last week, approaching a 2022 high, keeping pace with an increase in demand for travel fuels, the U.S. Energy Information Administration (EIA) said Wednesday. Production for the week ended Aug. 26 rose by 100,000 b/d to 12.1 million b/d from the prior week, EIA said in its Weekly Petroleum Status…

U.S. Natural Gas Activity Slows Modestly, Oil Tally Grows on Permian Gains
The U.S. natural gas rig count fell one unit to 158 for the week ended Friday (Aug. 26), while a round of gains in the oil patch lifted the combined domestic drilling tally three units higher to 765, according to the latest data from oilfield services provider Baker Hughes Co. (BKR). Week/week changes domestically included…

U.S. Oil Output Climbs Ahead of Biden’s Call for Action to Curb Energy Inflation
Crude output ticked up last week, reaching a new 2022 peak ahead of President Biden’s latest call for U.S. producers to boost activity in the face of soaring prices. The U.S. Energy Information Administration (EIA) said Wednesday output climbed to 12.0 million b/d for the week ended June 10, up 100,000 b/d week/week. It marked…

U.S. Crude Inventories Dive Lower as Demand Outstrips Production, Imports
Domestic petroleum consumption climbed in early February, driven by robust demand for gasoline, while production only crept ahead and inventories dropped to a 2022 low. Demand rose 2% week/week to 21.9 million b/d during the period ended Feb. 4, according to the U.S. Energy Information Administration (EIA). The advance was driven by an 11% jump…

Harvest Midstream Expanding Eagle Ford Oil Services with Arrowhead Acquisition
Harvest Midstream is poised to take full ownership of some South Texas crude oil transportation and logistics assets as it seeks to expand services for upstream and downstream customers in the Eagle Ford Shale. The privately held midstream company announced a purchase and sale agreement to acquire the remaining 75% stake in Arrowhead ST Holdings…