Global share markets fell on Tuesday as oil prices climbed yet further, driven by the United States banning Russian oil and other energy imports over Moscow’s invasion of Ukraine. U.S. President Joe Biden made the announcement on Tuesday, while Britain said it would phase out imports of Russian oil and …
Read More »OPEC Meets with US Shale Executives as Oil Prices Skyrocket
Officials from the Organization of the Petroleum Exporting Countries (OPEC) met US shale oil company executives on the sidelines of the CERAWeek conference in Houston on Monday, March 7, as energy prices soared over supply concerns. It was at least the fourth time since 2017 that US shale oil producers …
Read More »European Gas Soars to New Record as U.S. Mulls Russia Energy Ban
European natural gas soared to a fresh record as the U.S. said it was considering curbs on imports of Russian oil, a move that would add to supply fears across all energy markets. Dutch front-month gas, the European benchmark, jumped as much as 17% to an unprecedented 225 euros a …
Read More »US, Venezuela Hold Talks on Oil Exports to Replace Russia’s
The US is seeking to ease oil sanctions on Venezuela as part of a broader US strategy to temper oil prices that have skyrocketed due to Russia’s operation in Ukraine, according to people familiar with the matter. US and Venezuelan officials discussed the possibility of easing oil sanctions on Venezuela …
Read More »U.S. Says Russian Oil Import Ban on the Table in Talks with EU
The U.S. and its European allies are discussing a possible ban of Russian oil imports to tighten the economic squeeze on President Vladimir Putin over the war in Ukraine, Secretary of State Antony Blinken said. President Joe Biden’s administration, wary of pushing up energy prices for Americans, faced further pressure …
Read More »EIA: US Weekly LNG Exports Climb by Six LNGCs
According to the latest Short-Term Energy Outlook from EIA, U.S. LNG exports increased for the period between 24 February and 2 March 2022 compared to the week before. Specifically, they are up by six vessels. Twenty-four LNG vessels with a combined LNG-carrying capacity of 92 billion cubic feet departed the …
Read More »U.S., Allies Set Oil Reserves Release as Prices Soar
The United States and other member states of the International Energy Agency (IEA) on Tuesday agreed to release 60 million barrels of oil reserves to compensate for supply disruptions following Russia’s invasion of Ukraine. Russian oil trade is in disarray after many nations imposed sanctions on Russian companies, banks and …
Read More »U.S. to Help Uzbekistan Explore New Shale Deposits
Scientists from the United States will team up with experts from Uzbekistan to prospect for shale oil and gas deposits this year as Tashkent moves to ramp up production to tackle energy shortages and provide raw material for the gas-processing industry. Experts from the United States Geological Survey, or USGS, …
Read More »Iraq’s Oil Exports to the United States Increased in Last Week
The Energy Information Administration (EIA) Data showed, on Saturday, that Iraq’s export oil to the United States increased to 285 thousand bpd in the last week. EIA stated in a report, “The United States oil exports recorded 6.114 bpd in the first week of January.” The top three source countries …
Read More »U.S. Rig Count Gains for 18th Straight Week
The number of active drilling rigs in the United States rose by 5 this week—the 18th straight weekly increase to the number of oil and gas rigs in the United States. The total rig count now has now reached 650, as the world watches for any signs of increased output …
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