Tag Archives: United States of America

Oil prices backed off on Monday, reversing their Friday rally, as renewed concerns over waning demand in the United States and China dented market sentiment. Brent crude futures for January were down 71 cents, or 0.87%, at $80.72 a barrel at 0400 GMT, while the U.S. West Texas Intermediate (WTI) …

The Construction MMI (Monthly Metals Index) continued to lack strong bullish or bearish pressure month-over-month. Overall, the index only dropped by a minuscule 0.13%. Still, many factors remain at play in the construction industry, which seems to be behind the index components’ steady sideways trends. With the winter months coming, …

Oil prices struggled on Wednesday after sliding to their lowest levels in over three months in the previous session, weighed down by concerns over waning demand in the world’s top oil consumers, the United States and China. Brent crude futures advanced by 15 cents to $81.76 a barrel by 0636 …

Despite the falling and flatlining rig count, U.S. crude oil production managed to hit a monthly record-high in August 2023, boosted by productivity gains and more efficient operations. U.S. exploration and production companies are drilling longer laterals and deploying rigs to the most promising areas to get more bang for …

It’s not just Orsted that just realized the Green revolution is really deep red when it comes to shareholder value. Speaking at the FT Energy Transition summit on Wednesday, a clean energy executive at supermajor BP said that the U.S. offshore wind industry is “fundamentally broken” and needs a reset. …

Despite pervasive narratives around a supposed lack of shale supply response, monthly U.S Energy Information Administration (EIA) data shows U.S. oil production reaching a record 13.1 million barrels per day in August. That’s what strategists at Macquarie stated in a report sent to Rigzone on Wednesday, adding that they believe …

The United States, the European Union, and the United Arab Emirates are looking to drum up new recruits in the form of other governments to sign onto a global deal that seeks to triple renewable energy investment, according to new documents seen by Reuters. The COP28 climate summit hosts are …

ExxonMobil and Chevron have just announced mega acquisition deals to buy U.S. firms, which will boost the footprint of the U.S. oil supermajors in their domestic upstream market and the hottest exploration success of the past few years, Guyana. Betting on expectations of sustained global oil and gas demand and …

While almost all other auto manufacturers, especially those from Japan, are mulling exits from China (where domestic brands are starting to dominate the EV market), Stellantis is doing the opposite and investing in an EV startup. The U.S. based auto manufacturer who makes Jeep and Dodge brands said it would …

Oil prices fell on Thursday after a rise in U.S. crude stockpiles and a climb in the dollar index, giving up some ground gained a day earlier when prices jumped on Middle East tensions. Brent crude futures declined by 28 cents or 0.3% to $89.95 a barrel at 0340 GMT, …