Supplies on the Winnipeg regional line will be rerouted for three months.
On average, Stratas Advisors predicts that supply will be at a deficit of 840,000 bbl/d during 2024.
By keeping its voluntary production cuts, OPEC+ is sending a clear signal that oil prices need to be sustainable for both producers and consumers.
Low natural gas prices are forcing U.S. producers to finally pump the brakes on what has been record production. But the pullback in drilling will have muted effects on a market already glutted with too much gas, federal experts say.
The U.S. is replenishing the SPR, which currently holds about 362 MMbbl, down from 638 MMbbl three years ago before the sale of a record amount of crude.
The global LNG market is not currently tight, Gunvor Chairman Torbjörn Törnqvist said at CERAWeek, contradicting the view shared earlier in the day by TotalEnergies.
Supplies on the Winnipeg regional line will be rerouted for three months.
On average, Stratas Advisors predicts that supply will be at a deficit of 840,000 bbl/d during 2024.
By keeping its voluntary production cuts, OPEC+ is sending a clear signal that oil prices need to be sustainable for both producers and consumers.
Low natural gas prices are forcing U.S. producers to finally pump the brakes on what has been record production. But the pullback in drilling will have muted effects on a market already glutted with too much gas, federal experts say.
Prospective shippers can review details of the open season, which began March 11, after signing a confidentiality agreement with Tallgrass.
U.S. crude oil production will rise by 260,000 bbl/d to 13.19 MMbbl/d this year, the EIA said in its Short-Term Energy Outlook.
After several acquisitions toward the end of 2023, W&T Offshore executives say the offshore E&P is poised for a bounce-back year in 2024.
Stratas Advisors expects oil prices to move higher in the middle of the year, but for the upcoming week, there is no impetus for prices to raise.