U.S. shale production will likely plateau if WTI oil prices remain in the low $60s per barrel, and decline at prices in the $50s, ConocoPhillips chairman and CEO Ryan Lance said at the Qatar Economic Forum on Tuesday. “The breakeven probably hasn’t moved a lot,” Lance said in Doha, commenting …
Read More »U.S. Shale Output Nearing Peak as Oil Prices Stagnate
The decline in oil prices and the prevailing uncertainty about the economy, trade, and supply chains are accelerating the peak in U.S. oil production despite President Donald Trump’s ‘drill, baby, drill’ slogan. With the U.S. benchmark WTI crude prices at $60 per barrel, it’s mostly “hold, baby, hold” in the …
Read More »U.S. and UAE Announce $440 Billion in Energy Investments
The United States and the United Arab Emirates (UAE) expect to invest a total of $440 billion in the energy sector through 2035, Sultan Al Jaber, the chief executive of the UAE’s state oil and gas firm ADNOC, said on Friday. The United States is expected to invest $60 billion …
Read More »U.S. and Saudi Arabia Sign Major Energy Deals during Trump’s Visit
The United States and Saudi Arabia signed an economic partnership agreement and a number of energy deals between Saudi oil giant Aramco and American companies during the visit of U.S. President Donald Trump to the Kingdom on Tuesday. President Trump signed the economic cooperation agreement with Saudi Crown Prince Mohammed …
Read More »Oil Prices Surge as U.S. and China Agree to Tariff Cuts
Oil jumped by 3% early on Monday after the United States and China agreed to slash tariffs on each other, easing concerns about global trade and the economy. As of 6:52 a.m. on Monday, the U.S. benchmark, WTI Crude, was up by 3.13% at $62.93. The international benchmark, Brent Crude, …
Read More »Trump’s Energy Policies are Set to Significantly Boost U.S. Emissions
Despite having invested heavily in clean energy under former President Joe Biden, the U.S. is now falling back into old habits, which is driving up its greenhouse gas emissions. Since coming into office in January, President Donald Trump has introduced a wide range of policies aimed at increasing fossil fuel …
Read More »Oil Prices On Track for Weekly Gain as Market Expects U.S.-China Trade Talks
Oil prices are on track to post a weekly gain amid expectations that the first U.S. trade deal post-tariffs, with the UK, could be a good sign of thaw in the tense trade relations ahead of the U.S.-China talks this weekend. As of 9:45 a.m. EDT on Friday, the front-month …
Read More »Indonesia Looks to Buy more U.S. Fuel to Avoid Steep Tariffs
Indonesia plans to slash its fuel imports from Singapore and source more refined products from the United States as the country looks to negotiate lower tariffs with the U.S. Indonesia was slapped with one of the highest tariffs – 32% – in the “liberation day” tariffs announced by U.S. President …
Read More »U.S. Seeks to Downgrade Climate Risk in Global Financial Regulations
The U.S. is proposing that the Task Force on Climate-related Financial Risks (TFCR) at the Basel Committee on Banking Supervision (BCBS) be downgraded to a working group, the Financial Times reported on Friday, citing sources briefed on the matter. The Basel Committee is the top global regulator of the banking …
Read More »Exxon to Invest $1.5 Billion in Deepwater Oilfields in Nigeria
U.S. supermajor ExxonMobil plans to invest as much as $1.5 billion in deepwater oil and gas exploration and development offshore Nigeria, the local regulator, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has said. Exxon sold last year its onshore assets to local firm Seplat Energy, but is committed to offshore …
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