Oil and Gas Prices
Article
May 2023
Crude prices surged in April after OPEC+ announced it was slashing output by 1.16 MMbopd as a precautionary measure targeted at stabilizing oil markets.
Article
May 2023
Despite reasonable oil price levels, U.S. upstream activity is being restrained by inflated equipment/supply costs, residual lags in the supply chain, and, perhaps most of all, manpower issues.
News
May 04, 2023
WTI Midland joined the Dated Brent benchmark on Tuesday, in an effort to revamp a gauge that is used to set the price of more than two-thirds of the world’s crude. So far, that integration has proved successful.
News
April 29, 2023
As dealmaking starts to heat up in the industry, Pioneer, one of the dominant independent explorers in the prolific Permian Basin, will have a “high bar” to make acquisitions, Rich Dealy said in an interview with Bloomberg Television.
News
April 13, 2023
World markets may be under supplied by about 2 MMbpd in the fourth quarter as a result of cutbacks announced by Saudi Arabia and its partners, according to figures in a report from the Organization of Petroleum Exporting Countries.
News
April 11, 2023
Net-long positions in Brent crude jumped by more than 73,000 contracts in the week to April 4, according to data from ICE Futures Europe. The only other time a bigger net-inflow occurred was in late-2016, which also followed unexpected output curbs from OPEC that ultimately led to the creation of OPEC+.
News
April 10, 2023
One oil exchange-traded fund saw its largest one-day outflow in more than three years, a possible sign that some investors remain concerned about the outlook after OPEC+ delivered an unexpected supply cut.
News
April 10, 2023
Oil steadied as traders assess challenges to crude supply in the wake of planned output cuts by OPEC+ and in anticipation of news on when Iraq may resume exports from its northern fields.
News
April 03, 2023
Several OPEC+ members shocked the market over the weekend, announcing further voluntary supply cuts. These cuts were announced ahead of the Joint Ministerial Monitoring Committee meeting scheduled for April 3, where the expectation was that the committee would recommend keeping output policy unchanged.
News
April 03, 2023
The goal is to provide greater cost transparency and help shield the LNG market from the kinds of price swings that battered the TTF futures market last year, which sent energy bills soaring for consumers.
News
March 31, 2023
A report by the International Energy Agency, which formed the basis of a review into the cap, found that the mechanism had met its goals of reducing Moscow’s revenues and keeping global oil prices from spiking.
News
March 22, 2023
Crude would need to rise by about 15% to $80 a bbl, and gas would have to climb by more than a third to $3 per MMbtu for drilling and frack work to maintain its current pace, Quantum Energy Partners Chief Executive Officer Wil VanLoh said in an interview.
News
March 20, 2023
The G-7 previously agreed to review the price level in mid-March, and EU legislation stipulates that the aim should be to keep the threshold at 5% below average market rates.
News
March 20, 2023
Goldman Sachs Group Inc., one of the most bullish banks on its outlook for oil, has nudged its forecasts down as worries over the banking sector and the potential for recession outweigh a surge in demand from China.
News
March 17, 2023
Futures in New York are set for a 12% weekly loss. While the failure of Silicon Valley Bank and troubles at Credit Suisse Group AG drove investors from the market, oil-options covering accelerated the selloff.
News
March 16, 2023
The combination of tightening credit conditions and lower energy prices has the potential to constrain U.S. driller spending, or lead OPEC+ to review their output targets, “altering the forward outlook for oil and gas supplies in a non-trivial way,” Pimco's Greg Sharenow said.
News
March 16, 2023
Global markets were roiled on Wednesday as turmoil at Credit Suisse Group AG triggered panic among banking investors. The crisis spread to commodities, with oil falling to a 15-month low.
News
March 14, 2023
Under the proposals being considered by the Treasury, the additional 35% levy would cease to apply if energy prices fall below a given level, according to a person familiar with the matter.
News
March 14, 2023
Brent, the global benchmark, fell below $80 for the first time since early February as investors fled risk assets and poured into safer bets but recovered some of those losses as U.S. authorities unveiled emergency measures aimed at strengthening confidence in the banking system and preventing contagion
News
March 08, 2023
In EIR’s report, relevant fundamental drivers of oil and gas are discussed, of which include resurgent Chinese oil demand, Permian supply concerns, inflationary impacts on oil field services and general global economic uncertainty.
