Tag Archives: United States of America

The crypto industry is in crisis. Crypto bigwigs all over the world, from the United States to South Korea, have been slapped with very public criminal charges concerning fraud. After the scandalous downfall of FTX, one of the largest cryptocurrency exchanges in the world, regulators have escalated a crackdown on …

The total number of total active drilling rigs in the United States fell by 4 this week, according to new data from Baker Hughes published on Thursday—a day earlier than usual due to the Good Friday holiday this week. The total rig count fell to 751 this week—62 rigs higher …

Oil prices climbed on Wednesday over rebounding demand in the US after data revealed that US crude stockpiles decreased by more than anticipated, coupled with supply side concerns driven by the recent output cut decision by OPEC and other oil-producing countries. International benchmark Brent crude traded at $85.36 per barrel …

US President Joe Biden attempted on Monday to downplay the latest output cuts by the OPEC+ group of oil-producing nations. “It’s not going to be as bad as you think,” Biden said during a trip to Minnesota in response to a reporter’s question on the decision by some OPEC+ countries …

Following slow and consistent growth for two weeks in a row, the number of offshore rigs in the U.S. lost its upward momentum and remained flat at 18 units last week, based on Baker Hughes’ weekly rig count report. On the other hand, the total number of rigs operating in …

The Energy Information Administration (EIA) announced on Sunday that Iraqi oil exports to the US have decreased for the second consecutive week. The EIA’s report stated that “the average US imports of crude oil from nine countries during the past week amounted to 4.532 million bpd, a decrease of 891 …

Crude oil inventories in the United States fell this week by 6.076 million barrels, the American Petroleum Institute (API) data showed on Tuesday, in a major divergence from the 187,000 barrel build that was expected. The total number of barrels of crude oil gained so far this year is still …

The U.S. surpassed Russia as the top oil supplier to Europe at the end of last year as sanctions targeting Russia’s energy sector took hold. In December 2022, the U.S. exported nearly 34.5 million barrels of oil to the European Union, accounting for about 18% of the EU’s total imports, …

Natural gas prices are up on the day, but they are once again down on the week—the third week running—as unseasonably warm weather dampened prospects for one more demand push in the United States. Natural gas prices were trading up on the day to $2.191 (+1.81%), but prices week to …

High export demand for LNG and higher domestic natural gas consumption pushed U.S. gas demand to higher levels than supply last year, resulting in the highest average Henry Hub spot price since 2008, the Federal Energy Regulatory Commission (FERC) said in its 2022 State of the Markets report. Yet, U.S. …