Crude Oil: Influenced by Supply and Demand
From asphalt to plastics to fuel, oil is the king of commodities that is used in many different ways. As an economic powerhouse, the oil and gas industry and the...
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The Impact of Oil Price on the Economy
Shale extraction of oil and gas has lessened the need for the United States to import, helping the economy immensely in the form of investment, jobs, and growth. Oil exploration...
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What Drives the Price of Oil?
Also referred to as “black gold,” crude oil is considered one of the most precious commodities on a global scale. Changes in its price have the power to affect the...
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U.S. shale oil output to rise to highest since May 2020
NEW YORK (Reuters) - U.S. shale oil output is expected to rise to 8.1 million barrels per day (bpd) in September, the highest since May 2020, according to the Energy...
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Rystad: A US gas boom is coming
Natural gas production in the US is set to grow to a record 93,3 bcfd in 2022 and will continue to rise, exceeding 100 bcfd in 2024, according to Rystad...
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Enerplus to acquire Bakken acreage, increases 2021 production guidance
Enerplus has agreed to acquire Little Knife and Murphy Creek acreage interests in the Bakken shale in Williston basin in North Dakota from Hess for $312 million and has updated...
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Northern Access pipeline gets favorable court ruling
National Fuel Gas Supply Corp. and Empire Pipeline Inc. have received a favorable ruling from the US Second Circuit Court of Appeals regarding the 97-mile, 24-in. OD Northern Access natural...
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PetroChina’s $37B capex budget makes it the world’s most active oil company
(Bloomberg) --China’s fear of dependence on foreign suppliers means its biggest oil company plans to be the world’s top-spending driller this year, even as it says the nation’s demand for...
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2021 Oil Price Forecasts Ramped Higher
The U.S. Energy Information Administration (EIA) and Standard Chartered both increased their oil price forecasts for 2021 this week. According to its March Short Term Energy Outlook (STEO), the EIA now...
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Oil prices rise to highest in a year on U.S. growth optimism, crude supply restraint
Brent crude futures climbed 45 cents, or 0.8 per cent, to $59.28 a barrel, after hitting a high of $59.32, its highest since Feb. 20 last year. Brent is on...
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