Demand

Kinder Morgan Inc. (KMI) said it expects to post banner full-year 2021 results and drive even stronger earnings next year. Bolstered by exceptional winter demand for natural gas earlier in the year, the Houston-based operator is projecting it would earn 76 cents/share this year. Seismic first quarter sales gains made amid surging demand and soaring…

A steep sell-off early in the Oct. 28-Nov. 3 period because of generally unsupportive weather sent natural gas forward prices tumbling by double digits. December forward prices plunged an average 17.0 cents, while the balance of winter (December-March) slid 16.0 cents, according to NGI’s Forward Look. Summer (April-October) prices also softened, but losses were smaller…

ExxonMobil has boosted its annual spending on low-carbon ventures to $3 billion a year over the next five years, four times higher than initially planned, with expanded emissions targets set to be issued later this year, CEO Darren Woods said Friday. Woods detailed the $15 billion capital now earmarked during a wide-ranging conference call. Analysts…

U.S. crude inventories declined for the first time in four weeks as demand for gasoline and other fuels derived from oil bounced back and imports and production slid lower. The U.S. Energy Information Administration (EIA) said Wednesday oil inventories for the week ended Oct. 15, excluding those in the Strategic Petroleum Reserve, decreased by 400,000…

While strong, consumption of oil proved uneven through the first nine months of 2021, interrupted by outbreaks of the coronavirus Delta variant. This led the world’s largest cartel of crude producers to downgrade its demand outlook for the full year. The Organization of the Petroleum Exporting Countries (OPEC), however, said Wednesday that lofty natural gas…

A growing industrial sector and record-high export activity are expected to be key drivers of increased U.S. natural gas demand this winter, according to a leading trade group. Liquefied natural gas (LNG) exports are expected to grow by 16% over last winter, while pipeline exports to Mexico are expected to get an 18% boost, the…

Domestic petroleum demand rose last week, but strong crude production and imports ended up driving U.S. inventory gains for a second straight week, the Energy Information Administration (EIA) said. EIA’s Weekly Petroleum Status Report, released Wednesday, showed production climbed to 11.3 million b/d for the week ended Oct. 1, up from 11.1 million b/d the…

Under current policies, oil and natural gas production will continue growing through 2050 amid rising global energy consumption driven by developing Asian economies, according to the latest long-term projections from the U.S. Energy Information Administration (EIA). In its International Energy Outlook 2021(IEO2021) report published Wednesday, the agency predicted a nearly 50% increase in global energy…

Natural gas futures traded above $6.000/MMBtu to start the week as global supply concerns continued to infiltrate the U.S. gas market. With domestic gas demand at a seasonal low, however, early gains were pared and the November Nymex gas futures contract settled at $5.766, still up a significant 14.7 cents from Friday’s close. Spot gas…