Tag Archives: United States of America

U.S. refiners are set to continue operating at high utilization levels in the third quarter, despite concerns that a slowdown in demand could be looming in case of a recession, executives and analysts told Reuters on Thursday. Refiners operated at near capacity in the second quarter as demand was robust …

U.S. oil and gas companies generated profits worth $73.7 billion last year on the back of improving prices, with capital expenditure reaching $144.1 billion. This is one of the outtakes from a new report from EY titled “U.S. oil and gas reserves, production and ESG benchmarking study.” The study detailed …

Crude oil inventories in the United States dropped by 21.8 million barrels to 915.8 million barrels in June, which was the lowest level since 2004, the latest data from the Joint Organisations Data Initiative (JODI) showed on Wednesday. Product inventories, on the other hand, rose by 34.1 million barrels to …

Oil prices were little changed on Thursday as investors grappled with falling stockpiles in the US, rising output from Russia and worries about a potential global recession. Brent crude futures climbed 10c, or 0.1%, to $93.75 a barrel by 3.47am GMT. US crude futures gained 10c, or 0.1%, to $88.21 …

Crude oil futures gained on Wednesday morning as industry data in the US showed more-than-expected decline in inventories last week. At 10.30 am on Wednesday, October Brent oil futures were at $92.92, up 0.5 per cent, and September crude oil futures on WTI were at $87.39, up by 0.85 per …

Mexico — which imports nearly all of the natural gas it burns — has laid out a somewhat surprising mission: to become one of the world’s top exporters of the fuel, and fast. Although natural gas exports from Mexico are today non-existent, seeing as it produces too little of the …

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 …