The Trump administration is considering a host of potential resolutions to the oil price war currently wreaking havoc on global markets, including luring Saudi Arabia away from the Organization of the Petroleum Exporting Countries (OPEC) and into an alliance with the United States, according to U.S. Energy Secretary Dan Brouillette.
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Saudi May Hold Out Up To 2 Years in Price War, Fitch Analyst Says
With the Organization of the Petroleum Exporting Countries (OPEC)-plus alliance having failed to reach an agreement earlier this month to extend production cuts and boost prices, the Saudi-led cartel and former oil ally Russia are entrenched in a battle to see which one can hold out longer in an oversupplied global market, Fitch Solutions Inc. analysts said Thursday.
U.S. Should Embargo Russian, OPEC Oil, Says North Dakota Senator
The United States should embargo oil from Russia and Organization of the Petroleum Exporting Countries (OPEC) nations in response to their efforts “to distort energy markets,” according to Sen. Kevin Cramer (R-ND).
Oil Price Recovery Not Likely Until 2022; Recent Pullbacks ‘Just the Beginning,’ Says Enverus
Despite a wave of announcements by oil and gas producers to cut spending and activity in the wake of collapsing oil prices, Enverus expects to see a more significant pullback this summer as the market comes to the realization that a recovery will not come quickly.
NGI The Weekly Gas Market Report
E&Ps, OFS Operators Cutting Capex and Salaries as Covid-19 Reshapes Markets
A stream of oil and natural gas producers, as well as their oilfield services brethren, are proactively responding to the downturn in oil prices and the slump in demand by reducing spending, activity and in some cases, agreeing to take salary cuts.
NGI The Weekly Gas Market Report
World Oil Market in ‘Free-for-All’ and Russia Targeting U.S. E&Ps, Yergin Says
Energy industry guru Daniel Yergin, the vice chairman of IHS Markit who annually leads CERAWeek in Houston, said Wednesday the world oil market has become a “free-for-all” after an oil production alliance between the Saudi-led cartel and Russia collapsed last week.
U.S. Shale Industry ‘No. 1 Target in Russia’s Crosshairs,’ Says Yergin
Energy industry guru Daniel Yergin, the vice chairman of IHS Markit who annually leads CERAWeek in Houston, said Wednesday the world oil market has become a “free-for-all” after an oil production alliance between the Saudi-led cartel and Russia collapsed last week.
Denmark Green Lights Russia’s Nord Stream 2 Gas Pipeline
Denmark’s Energy Agency (DEA) has approved the Gazprom-led Nord Stream 2 consortium to lay its natural gas pipeline on the Danish continental shelf southeast of Bornholm in the Baltic Sea, the last remaining hurdle for the controversial project to reach completion.
Russia’s Novatek, Partners Sanction $21B Arctic LNG-2
Russia’s largest private natural gas producer Novatek and its partners on Thursday sanctioned the 19.8 million metric tons/year Arctic LNG-2 export facility, which would be sited north of Siberia.
NGI The Weekly Gas Market Report
Saudi Arabia Renewing Interest in Russian LNG Sector
Saudi Arabia, which is taking stakes in several Lower 48 export projets, is said to be eyeing plans to become a major player in Russia’s liquefied natural gas (LNG) sector.