Coronavirus

A step down in production drove natural gas futures prices higher for a second day, with gains accelerating after the latest weather models turned even hotter for next week. The September Nymex gas futures contract settled Tuesday at $4.027, up 9.2 cents on the day. October climbed 9.4 cents to $4.032. At A Glance: TGP…

Ohio’s oil and natural gas production dropped last year as operators shut in volumes and curbed activity amid the Covid-19 pandemic, according to the Ohio Oil and Gas Association’s (OOGA) annual Debrosse Memorial Report.   Natural gas production fell by 10% year/year to 2.4 Tcf in 2020, according to estimates included in the report. Oil production…

Even amid declines associated with the Covid-19 pandemic, the United States maintained its status as the globe’s leading producer of petroleum and natural gas in 2020, a recent analysis from the Energy Information Administration (EIA) shows. Domestic petroleum and natural gas output fell year/year in 2020 after reaching record highs in 2019, EIA said in…

The world’s thirst for electricity this year has led to an uptick in coal consumption and cut into U.S. natural gas consumption, according to the International Energy Agency (IEA). The global energy watchdog earlier this month said the world is getting back  to business following the depths of the pandemic, with energy demand rising quickly.…

In its first detailed estimates for 2022, the Organization of the Petroleum Exporting Countries (OPEC) said Thursday global crude demand would increase through next year as coronavirus vaccination efforts expand and consumption of travel fuel mounts. In its closely watched Monthly Oil Market report, OPEC said demand next year would increase by 3.3 million b/d…

Natural gas demand in Mexico stayed resilient through pandemic-ravaged 2020 compared to total energy demand, in line with trends seen globally, according to BP plc. Mexico’s natural gas consumption dipped only 1.9% year/year to 3.11 exajoules in 2020, while the country’s total primary energy consumption plunged 14.2% to 6.48 exajoules, according to BP’s Statistical Review…

Covid-19 upended the energy markets last year, with natural gas proving to be resilient while renewables continued to surge, according to BP plc. The 70th edition of BP’s Statistical Review of World Energy 2021 issued on Thursday revealed a global energy market that transformed in 2020 unlike any year in history. Primary energy and carbon…

The Organization of the Petroleum Exporting Countries and its allies, aka OPEC-plus, debated on Thursday a proposal to further boost crude oil production, anticipating steadily increasing demand for travel fuels in the second half of 2021. Citing successful vaccination efforts and economic momentum in leading countries such as the United States and China, the Saudi…

The Organization of the Petroleum Exporting Countries and its oil-producing allies, aka OPEC-plus, are poised to boost production again in August to meet mounting demand and offset flat output among cost-conscious U.S. shale producers. OPEC researchers said they expect that, absent production increases, demand will outstrip supply by 1.5 million b/d in August and widen…