Inflation

Domestic oil production jumped back to the 2022 peak level as OPEC and its allies affirmed plans to slash production through the end of the year as fallout from Russia’s war in Ukraine and China’s pandemic woes continued to roil global markets. The U.S. Energy Information Administration (EIA) said Wednesday output for the period ended…

U.S. oil production held steady last week, just shy of the pandemic-era high, even as demand slowed amid warnings of economic headwinds. The Energy Information Administration (EIA) said Wednesday that output for the week ended Nov. 11 was on par with the previous week at 12.1 million b/d. That kept production levels within 100,000 b/d…

Haynesville Shale pure-play Comstock Resources Inc. scored in the third quarter, lifted by strong natural gas prices and by selling 15% of output directly to LNG shippers on the Gulf Coast. The Frisco, TX-based independent gained leverage with 70% of its natural gas sold in “high value” Gulf Coast markets, including the liquefied natural gas…

Natural gas futures soared over the summer months, driving up costs for utilities that bought gas ahead of the fall months and then passed along the hikes to consumers, federal data show. More energy inflation lurks as winter weather will drive higher gas demand and OPEC-plus production cuts could propel oil prices. The U.S. Department…

Threats of recession in North America and across Europe are gathering force amid festering inflation and rapidly rising interest rates, developments that already tapered oil consumption and could impact commercial and industrial natural gas demand. The latest indicator: The U.S. Labor Department on Friday reported the job market remains tight but hiring is slowing. Employers…

Domestic crude output stalled last week at a level below the 2022 peak – and far lower than the pre-pandemic high – while the Kremlin’s erratic dictator threatened nuclear weapon retaliation amid the war in Ukraine. Russian President Vladimir Putin amplified already elevated uncertainty about his country’s fragile role on the world’s energy stage. Brent…

U.S. oil output was flat for a third consecutive week as demand fell amid increasing consternation about a looming economic recession, U.S. Energy Information Administration (EIA) data released Wednesday showed. Production for the period ended Sept. 9 was even with the previous two weeks at 12.1 million b/d, EIA said in its Weekly Petroleum Status…

With a U.S. recession appearing more likely in 2023 and uncertainty swirling around natural gas flows from Russia to Europe, natural gas markets may be in for a bumpy ride heading into the shoulder and winter seasons. “Our baseline is that you will see a recession in 2023,” Macquarie Group Ltd.’s David Doyle, head of…

The Inflation Reduction Act of 2022 (IRA) could more than double the amount of carbon dioxide (CO2) emissions that can economically be abated via carbon capture, storage and utilization (CCUS), according to modeling by Enverus. Natural gas-fired power plants, oil refineries and upgraders, as well as cement production, are among the emitting sources that would…