Tag Archives: United States of America

US President Joe Biden has today announced that the Department of Energy will make available releases of 50 million barrels of oil from the country’s strategic petroleum reserve to lower gas prices. Last week, Mr Biden asked the Federal Trade Commission to investigate possible wrongdoing of oil and gas companies …

Oil was steady after the biggest gain in two weeks following an announcement by the US of a coordinated release of strategic petroleum reserves (SPR) with other countries that fell short of expectations. Futures in New York traded above $78 a barrel after climbing 2.3% on Tuesday. The US will …

The U.S. will release 50 million barrels of crude from its strategic reserves in concert with China, Japan, India and South Korea and the U.K — an unprecedented, coordinated attempt the world’s largest oil consumers to tame prices that could prompt a backlash by OPEC+. Of that amount, 32 million …

Asia is stocking up on liquefied natural gas (LNG) to avoid a repeat of last winter’s crunch when colder than usual temperatures sent 2020/2021 winter spot LNG prices to records. Now prices are even higher, but many Asian buyers are still on the spot market despite the expensive gas in …

Japan is considering tapping into its national oil reserves, the country’s PM has confirmed, after Washington reportedly urged top oil consumers to release their reserves to tackle high crude prices. Speaking to reporters during his visit to the southern Japanese city of Matsuyama on Saturday, Prime Minister Fumio Kishida said …

The Energy Information Administration (EIA) Data showed, on Saturday, that Iraq’s export oil to the United States decreased to 42 thousand bpd. EIA stated in a report, “The United States oil exports recorded 5.442 bpd in the second week of November.” The top three source countries of U.S. import oil …

Sweet crude grades from the U.S. Gulf Coast have seen increased interest from Asian buyers in recent weeks, as many refiners in the world’s largest oil-importing region are purchasing more of the sweeter crude varieties, energy analytics firm Vortexa says. Asian refiners are looking for more crude of the sweeter …

The US Energy Department said November 12 that working gas storage levels are in line with historic trends, but this comes before winter weather is set to trigger a surge in demand. The US Energy Information Administration (EIA), part of the Energy Department, reported that gas storage levels were below …

Surging oil and natural gas prices are spurring production increases from West Texas to the Upper Great Plains that probably will lift output to levels not seen since the early days of the pandemic, according to Rystad Energy AS. U.S. shale-oil production is expected to reach 8.68 million barrels a …

China and the US have signed a joint declaration on enhancing climate action over the next decade in a bid to achieve the goals set in the 2015 Paris Agreement. The announcement was made at the 26th United Nations Climate Change Conference of the Parties (COP26) in Glasgow, Scotland which …