Global oil supply outside the cartel that makes up the Organization of the Petroleum Exporting Countries, i.e. OPEC, has recovered since contracting in 2016, but uncertainties remain about where the market may be headed through the rest of this year.
Articles from Global
The global oil and gas industry has begun its second year of recovery, but capital spending only climbed last year by about half as much as originally budgeted, and it is poised to surge this year, according to a survey by Raymond James & Associates Inc.
The resilience of U.S. unconventional natural gas and oil from shale and tight resources has cemented the country’s position as the biggest producer in the world, even at lower prices, the International Energy Agency (IEA) said Tuesday.
The secretary general of the Organization for the Petroleum Exporting Countries (OPEC) is calling on U.S. unconventional producers to help reduce the global oil surplus.
Natural gas demand worldwide rose by only 1.5% last year, slower than the 10-year average, while production climbed a mere 0.3%, the weakest growth in almost 34 years, with U.S. output falling for the first time since the shale revolution, BP plc said Tuesday.
U.S. producers, eager to get rigs back to work in the Lower 48, may be the drag on strengthening oil prices after global output increased to 9 million b/d in March from a trough of 8.6 million b/d last September, the International Energy Agency (IEA) said Thursday.
Oil, NatGas Prices Top Energy Concern as Disruptive Technologies Upend Outlook, Says World Energy Council
Shifting priorities of energy executives worldwide are putting more impetus on a lower-carbon future, while oil and natural gas price volatility remains the No. 1 “critical” uncertainty, according to the World Energy Council.
Global producers, led by U.S. operators, are opening their wallets again, but oil prices still may not be high enough to support sustainably stronger investments beyond 2017.
Three top global liquefied natural gas (LNG) buyers have agreed to cooperate in the “joint procurement of LNG” as global LNG consumers continue to seek more flexible contract terms and favorable prices.
Crude oil prices fell below $50/bbl last week, sharply impacting energy stocks, but the decline failed to shatter the send of optimism across the energy industry, considering oil prices were hovering around $35 a year ago, analysts said Monday.