supply/demand

U.S. Oil Production Holds Steady Even As Near-Term Demand Slips Further

U.S. Oil Production Holds Steady Even As Near-Term Demand Slips Further

Domestic crude production matched the pandemic-era peak, while demand last week declined and extended a trend early in 2023. The U.S. Energy Information Administration (EIA) said Wednesday output for the period ended Jan. 20 clocked in at 12.2 million b/d – matching the high mark of the past two years and on par with the…

January 25, 2023
What Are NGI’s Thought Leaders Forecasting for Natural Gas Prices, LNG, Russia – and Beyond?

What Are NGI’s Thought Leaders Forecasting for Natural Gas Prices, LNG, Russia – and Beyond?

Asking natural gas and oil executives about the market, their projects, cash flow and budgets is a staple of the NGI Thought Leader team’s daily routine. Turning that microphone around to ask journalists the questions is a bit trickier! The Thought Leader team was up for the challenge, though, to editorialize as we enter 2023.…

January 18, 2023
Oil Prices Slide Amid Signs of Weaker Domestic, Global Demand in 2023

Oil Prices Slide Amid Signs of Weaker Domestic, Global Demand in 2023

U.S. and global crude prices opened the New Year mired in a slump, led lower by uneven domestic demand and hints of global sluggishness amid intensifying expectations of recession. After dropping Tuesday, West Texas Intermediate (WTI) prices in the United States slid below $74/bbl in intraday trading Wednesday, down more than 4%. Brent crude, the…

January 4, 2023
IEA Again Warns of EU Natural Gas Supply Shortfall Next Year

IEA Again Warns of EU Natural Gas Supply Shortfall Next Year

The International Energy Agency (IEA) estimates the European Union (EU) could have to address a natural gas supply shortage in 2023 due in part to few additional LNG projects coming online and increased competition with Asia for cargoes. In a new report released Monday, the IEA modeled how the EU could manage a shortfall of…

December 13, 2022
NYISO Ready For Winter Demand, Though Natural Gas Losses Outpacing Renewable Adds Pose ‘Risk’ Later in Decade

NYISO Ready For Winter Demand, Though Natural Gas Losses Outpacing Renewable Adds Pose ‘Risk’ Later in Decade

The New York Independent System Operator (NYISO) announced it has adequate supplies to meet the state’s forecasted peak winter electricity demand of 23,893 MW.  NYISO said it is stocked with a total of 43,184 MW of available supply, which includes imports from neighboring regions, leaving it “well positioned to meet this winter’s forecasted demand and…

November 30, 2022
Energy Bank Execs Forecast Ongoing Strength in Global Natural Gas, Oil Prices

Energy Bank Execs Forecast Ongoing Strength in Global Natural Gas, Oil Prices

U.S. energy bankers expect to see “sustained increases” in global natural gas and oil prices – at a higher level than predicted earlier this year. According to the Fall 2022 Energy Price Deck Survey of 23 energy bank executives that was conducted in October by Haynes and Boone LLC, the forecasts showed significantly increased near-term…

November 16, 2022
U.S. E&Ps Step Up Oil Production as Demand Climbs, Recession Lurks

U.S. E&Ps Step Up Oil Production as Demand Climbs, Recession Lurks

Domestic crude production climbed notably last week, putting output near the 2022 peak, as U.S. demand accelerated and global market conditions tightened. The Energy Information Administration (EIA) said Wednesday that output for the week ended Nov. 4 climbed by 200,000 b/d from the previous week to 12.1 million b/d. That brought production close to the…

November 9, 2022
Limits in Short-term Gulf Coast LNG Export Capacity Could Fuel Price Slump as Production Builds

Limits in Short-term Gulf Coast LNG Export Capacity Could Fuel Price Slump as Production Builds

Limited additions to pipeline infrastructure and a slower expansion of LNG terminals on the Gulf Coast are expected to stymie U.S. natural gas demand in early 2023 before helping fuel the region’s export growth over the long term. The Gulf Coast has become the epicenter for U.S. liquefied natural gas since the Lower 48’s first…

October 10, 2022
Natural Gas, Oil Industry Profits Forecast to Retreat in 2023 on Slower Demand, Economic Pull Back

Natural Gas, Oil Industry Profits Forecast to Retreat in 2023 on Slower Demand, Economic Pull Back

Global energy company earnings, which surged on stronger oil and natural gas prices, should ease in 2023 as the industry adjusts to slower demand growth and an economic slowdown, according to Moody’s Investors Service. “The pace of improvement in fundamental industry conditions will also decelerate after a strong post-lockdown rebound in earnings and credit quality…

September 21, 2022
FERC Urged to Support Natural Gas Infrastructure in New England Amid Winter Supply Concerns

FERC Urged to Support Natural Gas Infrastructure in New England Amid Winter Supply Concerns

New England energy sector stakeholders stressed the importance of natural gas to the region’s energy security on Thursday at an event organized by FERC. The Federal Energy Regulatory Commission convened the forum to seek input on the region’s winter supply challenges. Primarily because of pipeline constraints, New England relies on LNG imports to cover increased…

September 9, 2022
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