The Latest
Crude Oil
US, Canadian Crude Exports to India Surge
In January, oil from the US and Canada accounted for 11% of India’s imports.
Business
US Shale Rebound to Remain Subdued Even as Oil Prices Rise
The lack of a U.S. shale rebound could make it easier for OPEC and its allies to manage the market, according to OPEC sources.
Liquefied Natural Gas (LNG)
Mexico Begins Receiving LNG as Gas Supply via Pipeline Rises
The government plans to supply the gas to several power plants.
Petrochemicals
Texas Oil Refiners Will Take Weeks to Recover From Winter Storm
The refinery shutdowns will depress prices for U.S. crude oil and widen the spread between U.S. and Brent crude, Paul Sankey of independent energy researcher Sankey Research said.
Markets
Op-ed: ‘Seek First to Understand’ Texas Winter Storm
Rather than add another “what went wrong” opinion, RED President Steve Hendrickson discusses the importance of gathering all the facts before assigning blame for the Texas Presidents’ Day power outage.
Exploration & Production
As Power Returns, Texas Energy Firms Slowly Emerge from Deep Freeze
Estimates vary, but the cold weather in Texas and the Plains states curtailed up to 4 million barrels per day of crude oil production and 21 billion cubic feet of natural gas, according to analysts.
Liquefied Natural Gas (LNG)
Texas RRC Notifies Producers of Governor Abbott’s Mandate to Keep Gas in State
The Texas Railroad Commission, though, likely does not have the authority to interfere with contracts between companies to sell gas out of state, says Commissioner Jim Wright.
Business
Oil ‘Supercycle’ Predictions Divide Veteran Traders
Bullish Wall Street banks expect crude oil prices to rise as high as $100 as the world economy rebounds.
Crude Oil
Real-time Oil Appetite Catches Up with Futures Rally
Global benchmark Brent futures are trading above $65 per barrel, quadrupling in value since pandemic lows in April.
Liquefied Natural Gas (LNG)
Mexico Presses US to Guarantee Natural Gas Supplies after Texas Export Ban
Texas Governor Greg Abbott ordered the restrictions on out-of-state supplies of natural gas from Texas through Feb. 21, citing the weather emergency. Mexico is Texas’ main out-of-state customer for gas.