supply/demand

NGI’s 3Q2023 North American Natural Gas Supply and Demand Analyst Takeaways

NGI’s 3Q2023 North American Natural Gas Supply and Demand Analyst Takeaways

North American natural gas prices dropped dramatically in 2023 as producers maintained robust production levels, inventories grew and international markets found more balance after Russia invaded Ukraine. Read what NGI analysts learned during 3Q2023 earnings season and how they view supply and demand trends moving forward. EQT Corp. (EQT): The marginal molecule of U.S. natural…

December 27, 2023
Sumas Natural Gas Prices Poised for Winter Volatility Given Aging Pipelines, Supply Competition

Sumas Natural Gas Prices Poised for Winter Volatility Given Aging Pipelines, Supply Competition

Sharp price spikes are likely to continue this winter for natural gas delivered to Washington state’s Sumas hub, reflecting a market plagued by deficient infrastructure struggling to keep up with widespread demand growth in the West, according to traders and analysts. Located on the Washington State border with British Columbia (BC), Canada, the Sumas hub…

October 25, 2023
U.S. Oil Production Flattens as Saudi Arabia, Russia Cut Output

U.S. Oil Production Flattens as Saudi Arabia, Russia Cut Output

U.S. exploration and production (E&P) firms kept crude output even last week amid an uncertain demand outlook and expectations for steep cuts to global supplies. E&Ps produced 12.2 million b/d for the week ended March 31, according to the U.S. Energy Information Administration’s (EIA) Weekly Petroleum Status Report (WPSR) on Wednesday. The result was flat…

April 5, 2023
Domestic Crude Production Holds Strong, Prices Recover Despite Banking Crisis

Domestic Crude Production Holds Strong, Prices Recover Despite Banking Crisis

U.S. exploration and production (E&P) firms last week approached the pandemic-era peak oil output level as catalysts for global demand gather and benchmark crude prices recover from fears imposed by financial system upheaval. E&Ps churned out 12.2 million b/d for the week ended March 24, according to the U.S. Energy Information Administration’s (EIA) Weekly Petroleum…

March 29, 2023
Shell CEO Says Natural Gas and Oil Key to Future, with Demand Rising

Shell CEO Says Natural Gas and Oil Key to Future, with Demand Rising

Shell plc is not going to determine how quickly the energy transition happens, but there is a role going forward for natural gas and oil, the CEO said last week. CEO Wael Sawan, who took the helm in January from long-time chief Ben van Beurden, spoke at CERAWeek by S&P Global in Houston. Asked if…

March 15, 2023
View From Wall Street – U.S. Natural Gas Production Cuts Needed to Salvage 2023 Prices

View From Wall Street – U.S. Natural Gas Production Cuts Needed to Salvage 2023 Prices

Lower natural gas output volumes are needed to reverse suddenly weak prices in 2023, several analysts said in new outlooks. Yet, they also cautioned exploration and production (E&P) firms against scaling back too aggressively because U.S. export demand is poised to surge in coming years. “Prices have been spiraling,” and “there is little upside potential…

March 1, 2023
American Oil Producers Keep Output Elevated; IEA, OPEC Ramp Up Demand Forecasts

American Oil Producers Keep Output Elevated; IEA, OPEC Ramp Up Demand Forecasts

U.S. crude production held firm at a pandemic-era high as new forecasts called for rising global demand tied to an expected surge in Chinese travel fuel consumption. American producers generated 12.3 million b/d for the week ended Feb. 10, on par with the prior week and the high mark of the past nearly three years,…

February 15, 2023
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
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