Oil and Gas Prices
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.
News
March 07, 2023
The latest analysis from McKinsey & Company reveals that oil and gas industry costs could increase between 6 to 10% in 2023 due to labor uncertainties and raw-materials inflation.
Article
February 2023
Green power struggle threatens global energy security
News
February 28, 2023
According to the International Energy Agency’s Gas Market Report, natural gas markets worldwide continued to tighten last year despite global consumption declining by an estimated 1.6% in 2022. Demand is forecast to remain flat in 2023, but the outlook is subject to a high level of uncertainty, particularly in terms of Russia’s future actions and the economic impacts of fluctuating energy prices.
News
February 27, 2023
The latest analysis from McKinsey and Company (McKinsey) reveals that a fresh wave of M&A is expected in the North American upstream market, fueled by high operating free cash flows.
News
February 27, 2023
As traders congregate in cocktail bars and hotels for International Energy Week, two issues will top the agenda: whether China’s economic reopening can bolster demand, and if sanctions on Russia will finally slash the energy giant’s supply.
News
February 24, 2023
Russia’s crude fetched an average of about $74 per bbl in the four weeks that followed the cap, according to calculations by experts including from the Institute of International Finance, Columbia University and University of California.
Article
February 2023
Back to Saudi Arabia, China, and oil pricing in dollars
News
February 16, 2023
Pricing data from Platts, a unit of S&P Global, suggest traders are garnering an unusually large margin on shipments of Urals crude sent from Russia’s ports in the Baltic region to India’s west coast, with delivery prices more than $20 a barrel higher than the purchase amounts.
News
February 16, 2023
The report by Airswift, the global workforce solutions provider to the STEM industries, finds that, with oil and gas majors posting record profits, 44% of oil and gas workers saw their pay increase last year and two-thirds expect further salary rises next year. 41% expect bumper pay rises of over five per cent next year.
News
February 06, 2023
Winter Storm Mara swept through Midland, the Dallas-Fort Worth area, and into San Antonio, covering several gas production basins in the state. The key elements of natural gas supply all performed up to par during the arctic blast.
