Tag Archives: United States of America

The United States hasn’t been a net exporter of oil and oil products since World War II. Now, it is on course to become a net exporter next year, with oil and product exports already hitting record highs of 3.4 million bpd and 3 million bpd respectively. Meanwhile, Reuters reports, …

OPEC has cut its forecasts for US shale oil supply several times as factors including investor caution curb expansion, making the non-conventional supply less of a worry for the producer group in its decisions on oil policy. On Tuesday, OPEC trimmed its forecast for 2023 growth in U.S. tight oil, …

The US will begin repurchasing crude oil for its Strategic Petroleum Reserve (SPR) in February, the Energy Department announced on Friday. “This repurchase is an opportunity to secure a good deal for American taxpayers by repurchasing oil at a lower price than the $96 per barrel average price it was …

The U.S. Department of Energy on Tuesday will announce that scientists at a national lab have made a breakthrough on fusion, the process that powers the sun and stars that one day could provide a cheap source of electricity, three sources with knowledge of the matter said. The scientists at …

Europe has simply switched from dependency on Russian gas to dependency on LNG from the US, the Kremlin said on Sunday. “They have now changed their dependence on Russia for dependence on American liquefied natural gas. This is exactly the same dependence. Only there is much less reciprocity,” Kremlin spokesman …

Oil prices rose more than 1 per cent on Monday as a key pipeline supplying the United States remained shut while Russian President Vladimir Putin threatened to cut production in retaliation for a Western price cap on its exports. Brent crude futures were up 46 cents, or 0.6 per cent, …

The number of total active drilling rigs in the United States slipped this week, according to new data from Baker Hughes published on Friday. The total rig count fell 4 to 780 this week—204 rigs higher than the rig count this time in 2021, and 295 rigs lower than the …

A US official said Wednesday that the oil price cap imposed on Russia does not involve ships navigating through Turkish waters. The Treasury Department said Deputy Secretary Wally Adeyemo spoke with Turkish Deputy Foreign Minister Sedat Onal and discussed Russia’s war against Ukraine and the implementation of the price cap …

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 …