Topic / Oil

Subscribe

Oil

Robust Global Oil Demand Forecast Despite Omicron, Though Supply Outlook Mixed

Robust Global Oil Demand Forecast Despite Omicron, Though Supply Outlook Mixed

Even as the Omicron variant of the coronavirus spreads rapidly and threatens to at least stall travel and economic activity, forecasters are sticking to bullish expectations for demand in the year ahead while eyeing potential supply challenges. Brent crude, the international benchmark for oil prices, eclipsed $88/bbl in Wednesday trading, reaching a high last seen…

January 19, 2022
U.S. E&Ps, OFS Players Expected to Reset in 2022, with Eyes on Inflation, Supply Chains

U.S. E&Ps, OFS Players Expected to Reset in 2022, with Eyes on Inflation, Supply Chains

Natural gas and oil producers in the United States are likely to increase their overall capital spending this year as they face a supply chain squeeze, labor issues and higher prices for services, but the mantra to remain disciplined has not changed.

January 18, 2022
Harvest Midstream Expanding Eagle Ford Oil Services with Arrowhead Acquisition

Harvest Midstream Expanding Eagle Ford Oil Services with Arrowhead Acquisition

Harvest Midstream is poised to take full ownership of some South Texas crude oil transportation and logistics assets as it seeks to expand services for upstream and downstream customers in the Eagle Ford Shale. The privately held midstream company announced a purchase and sale agreement to acquire the remaining 75% stake in Arrowhead ST Holdings…

January 14, 2022
API Working to Ensure Federal Natural Gas, Oil Leasing Continues, Emissions Drop

API Working to Ensure Federal Natural Gas, Oil Leasing Continues, Emissions Drop

To ensure the United States holds its mantle as a top natural gas and oil producer, the American Petroleum Institute (API) plans to push for continued access to federal leasing and advocate that producers advance their work to reduce carbon emissions.

January 13, 2022
Global Oil Forecast to Average $75 in 2022 as Consumption Grows

Global Oil Forecast to Average $75 in 2022 as Consumption Grows

Brent crude oil prices are set to average $75/bbl in 2022, up from $71 in 2021, as the world is on track to increase its consumption of liquid fuels over the next two years, according to updated projections from the Energy Information Administration (EIA). The world consumed 96.9 million b/d on average in 2021, a…

January 12, 2022
U.S. Crude Stocks Drop as Production Levels Off, Demand Increases

U.S. Crude Stocks Drop as Production Levels Off, Demand Increases

Inventories of U.S. oil continued to decline early in 2022 – extending a trend that developed last year – as petroleum demand climbed and production ticked down, the Energy Information Administration (EIA) said Wednesday. For the week ended Jan. 7, domestic commercial crude inventories, excluding those in the Strategic Petroleum Reserve, decreased by 4.6 million…

January 12, 2022
Global Oil, Natural Gas Investments Seen Rising 4% in 2022

Global Oil, Natural Gas Investments Seen Rising 4% in 2022

Global oil and gas investment is expected to grow by $26 billion this year as the industry continues to recover from the worst of the coronavirus, according to new analysis from Rystad Energy. Overall oil and gas investment is forecast to climb by 4% to $628 billion this year from $602 billion in 2021. “The…

January 11, 2022
Natural Gas Prices to Decline Through 2023 as Production, Exports to Rise, EIA Says

Natural Gas Prices to Decline Through 2023 as Production, Exports to Rise, EIA Says

In updated forecasting stretching to 2023, the Energy Information Administration (EIA) on Tuesday laid out a vision of rising natural gas production and exports alongside moderating U.S. prices. Natural gas spot prices at Henry Hub averaged $3.91/MMBtu for 2021, the agency said in its latest Short-Term Energy Outlook (STEO). This year and next should bring…

January 11, 2022
With Demand Strong and Worst Omicron Fears Eased, a Path Clears for $100 Oil in 2022

With Demand Strong and Worst Omicron Fears Eased, a Path Clears for $100 Oil in 2022

With global benchmark oil prices already hovering around $80/bbl on strong demand early in the year — despite a surge in coronavirus cases — analysts said consumption could reach record levels this year and potentially drive the cost of crude into the triple digits.

January 11, 2022
Midcontinent, Rockies Record Highest Oil and Gas Prices in Years to Spur Drilling, Kansas City Fed Says

Midcontinent, Rockies Record Highest Oil and Gas Prices in Years to Spur Drilling, Kansas City Fed Says

Average oil and natural gas prices of $73/bbl and $4.27/MMBtu, respectively, were needed to justify substantially more drilling during the fourth quarter of 2021, according to a survey of Midcontinent and Rockies energy firms by the Federal Reserve Bank of Kansas City. That translates into the highest “substantial increase price” average recorded for oil since…

January 10, 2022
‹ Previous 1 2 3 42