Tag: UNITED STATES

Trump may include oil imports in new tariff plan

President-elect Donald Trump’s plan to impose a 25% tariff on Canadian and Mexican imports on his first day in office does not exempt oil from the trade sanctions

U.S. Issues Regulation to Reduce Methane Emissions from Oil and Gas

In a statement, the U.S. Environmental Protection Agency explained that this directive encourages companies to take immediate actions to reduce methane emissions

OPEC positive on global oil demand, sees no peak on horizon

The Organization of Petroleum Exporting Countries (OPEC) is very positive on demand for oil in both the short and long term, Secretary General Haitham Al Ghais said at an energy industry event in Abu Dhabi

As US Permian crude turns lighter, it risks losing favor with refiners

Companies drilling for the crude that turned the U.S. into the world’s top oil producer face an unexpected dilemma: their West Texas Midland crude is getting lighter, which could make it less appealing to some refiners

EIA slashes US, Global oil demand forecasts for 2025

U.S. and global oil demand growth will be smaller next year than prior forecasts, the U.S. Energy Information Administration said in its Short-Term Energy Outlook report

US buys 6 million barrels of oil for Strategic Petroleum Reserve

The purchases are part of an effort to replenish stockpiles after President Joe Biden ordered the largest ever sale from the reserve in 2022 of 180 million barrels in an effort to control fuel prices

US crude inventories hits lowest level in a year, fuel builds, EIA says

Crude inventories fell by 1.6 million barrels to 417.5 million barrels in the week ending Sept. 13, the EIA said, compared with analysts’ expectations

Traders see prices at $60-70/bbl on oversupply, China demand risks

Global commodity traders Gunvor and Trafigura anticipate oil prices may range between $60 and $70 per barrel due to sluggish demand from China and persistent global oversupply, executives told a conference

EIA estimates U.S. oil production will grow more than expected

U.S. oil production will increase by 320,000 barrels per day (bpd) this year, reaching 13.25 million bpd, a record slightly higher than previously forecast, the U.S. Energy Information Administration (EIA) reported

Repsol explores sale of minority stake in South Texas oil assets

Repsol is open to selling as much as a 49% interest in the assets, which include over 800 producing wells spread across about 80,000 net acres with production of about 50,000 barrels of oil equivalent per day