Tag Archives: United States of America

Asian buyers have bought a substantial amount of cheap U.S. crude on the spot market, suggesting that demand for Middle Eastern grades will be lower in the immediate future, Bloomberg reports, citing traders. According to them, South Korean and Indian refiners had bought some 16 million barrels of U.S. crude …

The Energy Information Administration has lowered its forecast for crude oil production for this year and next, according to a new report. The Energy Information Administration (EIA) made several adjustments to its production forecasts in its Short Term Energy Outlook published on Tuesday. The EIA now sees U.S. crude oil …

After years of uncertainty and stagnation, the offshore drilling market is on the rebound and is in the early innings of an upcycle in investment and activity that will outpace the 2016-2019 cycle, major services and rig providers say. Analysts and top offshore drilling executives say that offshore rig utilization …

U.S. shale oil drillers continue to show little sign of responding to high global prices with more production, only now it’s not just their focus on rewarding shareholders that’s holding them back, but also a preoccupation with soaring costs. The combined oil and gas production forecasts from a dozen companies …

Russia’s Foreign Minister Sergey Lavrov on Friday, in support of the Iranian stance on lifting sanctions and nuclear talks, called for a change in the US stance and the return to the international agreement (JCPOA). According to The Russian News Agency TASS, talking to media, Sergei Lavrov, who was visiting …

The war in Ukraine has changed the direction of energy supplies around the world, and one result is that the United States is now sending more gas to Europe by sea than Russia by pipeline, the Wall Street Journal reported, citing ICIS data. Since 1967, Gazprom’s pipelines in western Siberia …

The OPEC+ group of oil exporters are set to hammer out a new strategy at their meeting Wednesday, with all eyes on how they will react to soaring crude prices. The 13 core members of OPEC, led by Saudi Arabia, and the 10 further states in OPEC+ — chief among …

U.S. crude oil imports from Iraq averaged 165,000 oil barrels per day (bpd) last week, the Energy Information Administration (EIA) revealed. According to the report, last week’s oil imports from Iraq amounted to 454,000 barrels (165,000 bpd). Iraq followed the United States’ top crude oil suppliers, Canada (3.308 million bpd), …

The number of total active drilling rigs in the United States rose by 9 this week, according to new data from Baker Hughes published on Friday. The total rig count rose to 767 this week—279 rigs higher than the rig count this time in 2021. Oil rigs in the United …

When U.S. President Joe Biden promised European leaders in March that he would help secure new supplies of liquefied natural gas (LNG) to offset shortages from Russia’s invasion of Ukraine, his pledge was greeted with scepticism. After all, the U.S. LNG industry was already hitting its export limits and the …