Tag Archives: United States of America

US President Joe Biden warned Tuesday that there will be “consequences” for Saudi Arabia after Riyadh threw its weight behind a production cut by the oil cartel OPEC+ which has sent prices soaring. “There’s going to be some consequences for what they’ve done with Russia,” Biden said in an interview …

Oil prices slipped for a third straight session on Wednesday as the dollar gained steam and investors braced for U.S. inflation data, while global recession risks and tightening COVID-19 curbs in China triggered worries about fuel demand Brent crude futures fell 46 cents, or 0.5 per cent, to $93.83 a …

The number of total active drilling rigs in the United States fell by 3 this week, according to new data from Baker Hughes published on Friday. The total rig count fell to 762 this week—229 rigs higher than the rig count this time in 2021. Oil rigs in the United …

The US government may soon reduce sanctions on Venezuela, allowing Chevron and other oil companies to resume oil drilling there. This comes just hours after OPEC+ countries announced a cut in oil supply by two million barrels per day (bpd). A report by the Wall Street Journal (WSJ) said that …

The United States is pushing OPEC+ nations not to proceed with potential deep oil output cuts, a source familiar with the matter told Reuters, as President Joe Biden seeks to prevent US gasoline prices from rising, Trend reports. Washington is arguing to OPEC+ nations that economic fundamentals do not support …

Liquefied natural gas from the United States has turned into a lifebelt for struggling Europe as Russia cut supplies via one of the biggest gas conduits into the continent. U.S. LNG will continue to play a crucial role in Europe’s gas supply. But it won’t be enough to avoid a …

Last week, the media rushed to report that natural gas prices in the United States had fallen sharply after trade unions and railway companies reached a tentative deal that averted a potentially devastating strike. Indeed, natural gas prices fell by nearly a dollar per million British thermal units, helped by …

US oil may test a resistance at $86.76 per barrel, a break above could open the way towards $87.66-$88.07 range. The roller-coaster move of the price on Monday suggests the development of a wave C, the third wave of a three-wave cycle from $81.20. This wave could either end around …

Oil prices rose on Friday, Sept. 16, but declined for the third consecutive week amid recession concerns. Crude prices were driven by China’s data that reflected the success of stimulus measures in supporting the economy to face the repercussions of COVID-19, as retail sales and industrial production rose more than …

Current forecasts of U.S. crude oil production growth may have to be significantly revised as the recent slide in active drilling rigs in the top shale basin, the Permian, suggests that output may disappoint due to supply chain constraints and cost inflation in the double digits. The rig count in …