Europe’s thirst for U.S. crude oil is expected to remain elevated, VP of Midstream for Chevron Corp said today on the sidelines of the Argus Americas Crude summit. “A key change in flow is U.S. crude going to Europe. For this year, I’m pretty confident Europe is short of Russian …
Read More »U.S. to Receive 3 Million Barrels of Venezuelan Crude Oil in February
The United States is on track to receive nearly 3 million barrels of crude oil from Venezuela this month, according to shipping documents seen by Reuters. Chevron is on track to ship 100,000 barrels of Venezuelan crude oil per day into the United States as part of a license it …
Read More »Steelmakers Increase Production amidst Rising Prices and Demand
U.S. steel prices continue to rise amid ongoing price hikes from domestic steelmakers. The ascent for HRC prices accelerated throughout January as they jumped by over 10%. Meanwhile, plate prices returned sideways with a modest month-over-month rise of just under 2%. Of course, this came after prices traded down throughout …
Read More »Number of Active U.S. Drilling Rigs down Slightly this Week
The number of active drilling rigs in the United States stands at 760 this week, down by one from the previous week but up by 115 from a year ago, according to the weekly data released Friday by Houston-based oilfield services company Baker Hughes, Trend reports citing Xinhua. These active …
Read More »Russia Urges U.S. to Prove Innocence over Nord Stream Incident
The United States should try to prove its innocence of blowing up the Nord Stream gas pipelines, the Russian Embassy in the United States said on Thursday. The Russian side will not allow to simply turn the page on destroying critical energy infrastructure, especially given the fact that nothing is …
Read More »Russia Says U.S. should Prove It did not Destroy Nord Stream
The United States should try to prove it was not behind the destruction of the Nord Stream gas pipelines that connected Russia to Western Europe, the Russian embassy to the United States said on Thursday. Moscow considers the destruction of Nord Stream 1 and Nord Stream 2 pipelines last September …
Read More »Oil Prices Fall ahead of Crucial Upcoming US Inflation Data
Oil prices fell on Monday ahead of the release of critical US inflation data due later this week, sparking recession fears in the country. International benchmark Brent crude traded at $85.56 per barrel at 09.55 a.m. local time (0655 GMT), down 0.96% from the closing price of $86.39 a barrel …
Read More »Russia Says NATO should Hold Emergency Summit over Nord Stream Blasts
NATO should hold an emergency meeting to discuss recent findings about September explosions at the Nord Stream gas pipelines, Russia’s Foreign Ministry spokeswoman Maria Zakharova said late on Saturday. Investigative journalist Seymour Hersh, who won a Pulitzer Prize in 1970, said in a blog post on Wednesday, citing an unidentified …
Read More »U.S. Oil Drilling Activity Picks up amid Rising Crude Prices
The total number of total active drilling rigs in the United States rose by 2 this week, according to new data from Baker Hughes published on Friday. The total rig count rose to 761 this week—126 rigs higher than the rig count this time in 2022 and 314 rigs lower …
Read More »NATO Urges Russia to Respect Nuclear Pact with U.S.
The North Atlantic Treaty Organization (NATO) on Friday called on Russia to respect its treaty with the United States on nuclear weapons, which contributes to international stability. NATO ambassadors said in a statement that “We note with concern that Russia has failed to comply with legally-binding obligations under the New …
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