The Latest

Field Development

Qatar Petroleum, Exxon Mobil CEOs Talk LNG, Natural Gas

Qatar Petroleum and Exxon Mobil are betting big on LNG and natural gas as the demand outlook appears promising for both.

March 3, 2021

Crude Oil

Record US Crude Oil Stockbuild as Refining Plummets after Texas Freeze

The increase in crude oil stocks in the U.S. was also driven by a big jump in crude imports, which rose by a net 1.66 million bbl/d, the EIA said.

March 3, 2021

Crude Oil

OPEC+ Considering Oil Output Roll Over for April

OPEC and other oil producers, a group known as OPEC+, are considering rolling over production cuts into April instead of raising output as a recovery in oil demand remains fragile due to the coronavirus crisis, three OPEC+ sources told Reuters on March 3.

March 3, 2021

Business

CERAWeek: OPEC Oil Has Advantage over US Shale during Pandemic Recovery

At CERAWeek, OPEC vs. U.S. shale is often discussed as a showdown between competing interests, but the dynamic of Texas vs. the Middle East is nearly invisible this year.

March 3, 2021

Crude Oil

OPEC: Oil Market Rebalancing but COVID-19 Still a Risk

OPEC and other key exporters such as Russia, a grouping dubbed OPEC+, meet on March 4 and are expected to discuss allowing as much as 1.5 million bbl/d back into the market

March 2, 2021

Crude Oil

What’s Affecting Oil Prices This Week? (March 1, 2021)

Growing optimism, growing risks? The price of Brent crude closed last week at $64.63 after reaching $66.78 on Feb. 25, but was still up for the week by 2.73%, Stratas Advisors says in its latest oil price forecast.

March 1, 2021

Crude Oil

OPEC Oil Output Falls in February on Saudi Additional Cut

OPEC oil output fell in February as a voluntary cut by Saudi Arabia added to agreed reductions under a pact with allies, a Reuters survey found on March 1, ending a run of seven consecutive monthly increases.

March 1, 2021

Business

Pembina Can No Longer Predict Start Date for Oregon Jordon Cove LNG

The $8 billion Jordan Cove LNG export project in Oregon is one of several major energy projects that received strong support from former U.S. President Donald Trump but have since failed to move forward.

March 1, 2021

Liquefied Natural Gas (LNG)

Shell Expects Global LNG Demand to Nearly Double by 2040

Demand was 360 million tonnes last year, up slightly from 2019’s 358 million tonnes.

February 26, 2021

Natural Gas

US Trade Groups Urge Biden to Cap Natural Gas Prices after Texas Freeze

Gas prices, which usually trade around $3 per MMBtu, rocketed to over $300 per MMBtu at some hubs, while power prices, which usually trade around $25 per megawatt-hour in Texas, soared to over $10,000 at times.

February 26, 2021