reliability

U.S. crude futures rallied on Friday amid recovering demand and reports of an impending agreement by the Organization of the Petroleum Exporting Countries and its allies, aka OPEC-plus, to extend May and June output cuts through July.

A roundup of news and commentary from NGI’s LNG Insight

Reduced oil and gas production in the Permian Basin, combined with record-low levels of completions activity, should lead to historically low levels of gas flaring in the last half of 2020, according to Rystad Energy.

Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process.

Natural gas futures were slightly lower but still range bound to finish the week as the July Nymex contract swung in a less than 10-cent band before settling Friday at $1.782, off 4.0 cents day/day. August was down 3.1 cents to $1.886.

Hotter weather couldn’t prevent an ultimate fall in spot gas prices for the June 1-5 period, with markets across the Lower 48 falling week/week. Losses were fairly small, however, andNGI’s Weekly Spot GasNational Avg.was down only 5.0 cents to $1.610.

Hydraulic fracturing expert BJ Services said Thursday it is ready to deploy a next-generation pump in the Permian Basin and Eagle Ford Shale after completing a 1,000-hour field trial in the Haynesville Shale fueled by natural gas.

Many U.S. oil and gas operators may view overseas demand as the best option for growth, but Canada continues to be the largest source of domestic energy imports and the second largest export destination, behind only Mexico, the Energy Information Administration (EIA) said Friday.

Facing a 13.3% national unemployment rate and the negative impacts of continuing Covid-19 mitigation efforts, President Trump on Thursday signed an executive order (EO) directing federal agencies to “take all reasonable measures to speed infrastructure investments and to speed other actions in addition to such investments that will strengthen the economy and return Americans to work,” including setting aside some Endangered Species Act and National Environmental Policy Act restrictions.