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This week, Goldman Sachs raised its oil price target to $100 again. The bank cited lower OPEC output combined with higher demand, which taken together, “more than offset significantly higher U.S. supply.” The average gas price in the U.S. on September 20 was $3.875, slightly lower than a day earlier …

China has been stepping up its natural gas purchases as well as facilitating construction in recent years, as part of efforts to ensure sufficient energy supply amid its green transition, said industry experts. The country is looking to sign more deals to avoid future shortages and reduce dependence on spot …

The total number of active drilling rigs in the United States fell by 11 this week, after seeing a brief 9-rig rise last week, according to new data from Baker Hughes published Friday. It is the fewest number of active drilling rigs since February 4, 2022. The total rig count …

Oil-rich Libya has been fighting to get its oil industry back on track over the last decade, since the Arab Spring and subsequent political instability. Following the failed presidential elections of 2021, it finally appeared that Libya’s oil and gas industry was getting back on track. More foreign investment was …

The benchmark natural gas prices in Europe and the UK dropped early on Friday after Chevron and trade unions settled a labor dispute which led to the unions calling off the strikes at two large LNG export facilities in Australia. The front-month futures at the Dutch TTF hub, the benchmark …

Japan’s liquefied natural gas inventories dropped to the lowest level in over a year-and-a-half and could push the nation’s utilities to buy more fuel ahead of winter. Storage held by Japan’s power suppliers fell to 1.62 million tons as of Sept. 17, according to data compiled by the trade ministry. …

The European Union could move from one heavy energy dependence to another as the achievement of its green energy targets could depend on China as much as the EU’s gas deliveries depended on Russia until two years ago. The EU is sticking to its net-zero targets, and the European Parliament …

The head of Canadian operations for oil producer Equinor said on Tuesday he is more optimistic the Norwegian company will proceed with its Bay du Nord offshore project, four months after delaying the project for up to three years due to soaring costs. “That’s our sentiment now, we really want …

Exxon will boost crude oil production in Nigeria by an additional 40,000 barrels per day, Nigerian President Bola Tinubu’s spokesman Ajuri Ngelale said in a statement on Tuesday. Nigeria has long had aspirations for increasing its crude oil production, most recently promising to boost production to 1.7 million barrels per …

Oil prices retreated further from 10-month highs on Wednesday ahead of the U.S. Federal Reserve’s interest rate decision, with investors uncertain when peak rates will be hit and how much of an impact it will have on energy demand. Prices fell despite a bigger-than-expected draw in U.S. oil stockpiles and …