Tag Archives: United States of America

US oil may drop more into a range of $70.72-$72.04 per barrel, driven by a wave C. This wave is capable of travelling into a wide range of $63.20-$70.89, formed by its 100% and 61.8% projection levels. In addition to this set of projection levels, the wave C is well …

OPEC+ yesterday decided to leave its production quotas where they are, at 2 million bpd lower than they were in October, which is an effective cut of 1 million bpd of production. Three days earlier, the European Union reached an agreement to set a price cap on Russian crude oil …

Despite the fact that U.S. crude oil production has recently hit the highest level since the pandemic low of below 10 million barrels per day (bpd) in May 2022, the growth rate has markedly slowed this year as the shale patch struggles, labor shortages, supply chain delays, and the high …

The White House on Friday welcomed a $60 per barrel EU price cap for Russian oil exported by sea. “A price cap will help limit Mr. Putin’s ability to profiteer off the oil market so that he can continue to fund a war machine that continues to kill innocent Ukrainians,” …

The United States has urged caution in the European Union’s discussions of a price cap on Russian crude, saying that the lower prices that have been cited in recent days may be misleading. Per a Reuters report, an unnamed U.S. official said that the price of $52 per barrel of …

Venezuelan President Nicolas Maduro said Wednesday that licenses and authorizations granted so far by the US to ease sanctions it imposed on Venezuela are “headed in the right direction” but are “not enough.” The easing of the oil embargo by the US government “undoubtedly goes in the right direction, although …

Oil prices posted gains of more than 1 per cent in Asian trade on Wednesday on falling U.S. crude inventories and a lower greenback, but concerns OPEC+ will leave output unchanged at its upcoming meeting and weak China data limited gains. Brent crude futures firmed 95 cents or 1.14 per …

The Biden administration has proposed a set of new rules aimed at curbing gas flaring on public lands, with the Bureau of Land Management saying these measures would result in $39.8 million in additional royalties for the United States. Per the proposal, every company applying for an oil and gas …

The European Union’s energy crisis response plan is being challenged by the bloc’s members’ differing opinions on whether a price cap should be implemented on natural gas imports and, if yes, how exactly this implementation should look. While EU officials try to put on a brave face and send positive …

US oil may fall into a range of $70.72-$72.04 per barrel, as pointed to by a falling trendline. The contract is riding on a wave e, the fifth wave of a five-wave cycle from the Nov. 7 high of $93.74. This wave is expected to travel to $70.72. The pattern …