The U.S. didn’t import any Saudi crude last week for the first time in 35 years, a reversal from just months ago when the Kingdom threatened to upend the American energy industry by unleashing a tsunami of exports into a market decimated by the pandemic. SourceContinue Reading
The World’s First Major Hydrogen Hubs Are In The Making | OilPrice.com Alan Mammoser Alan Mammoser writes about energy, environment, cities, infrastructure and planning. He writes the weblog, www.warmearth.us More Info Premium Content By Alan Mammoser – Jan 06, 2021, 11:00 AM CST A profuse literature on hydrogen is coming forth from companies, governments, and...Continue Reading
Guards Block Oil Loading At Libyan Port | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Jan 06, 2021, 10:30 AM CST Petroleum facilities guards at an oil export terminal in eastern Libya have delayed the loading of at least one crude oil cargo and are...Continue Reading
Oil Jumps On Major Crude Inventory Draw | OilPrice.com Irina Slav Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry. More Info Premium Content By Irina Slav – Jan 06, 2021, 9:43 AM CST Crude oil prices rose further today after the Energy Information Administration...Continue Reading
Alaska Judge Rules In Favor Of Oil, Gas Drilling In Wildlife Refuge | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Jan 06, 2021, 9:30 AM CST An Alaska judge has ruled against a request for an injunction against a lease sale in the Arctic National...Continue Reading
The first monthly OPEC+ meeting to decide on the group’s production ended with an unexpected, in fact shocking two-month agreement: Saudi announced an unexpected and unilateral production cut of 1 mb/d in February and March, Russia and Kazakhstan will instead increase output modestly to meet seasonal needs while other producers will remain at their January...Continue Reading
“We are the guardian of this industry,” Saudi Energy Minister Prince Abdulaziz bin Salman said as he announced Saudi’s production cut on Tuesday, preserving the OPEC+ deal and sending oil prices to 10-month highs. He emphasized that the decision was made unilaterally by Crown Prince Mohammad bin Salman himself. SourceContinue Reading
OPEC+’s agreement, which will see most producers keep output steady while the Saudis cut, prompted a sharp rally in the structure of the oil futures curve as traders anticipated lower supply in the coming months. SourceContinue Reading
The decision is a victory for the administration, which has been racing to issue oil leases in the refuge’s coastal plain before the Jan. 20 inauguration of President-elect Joe Biden. SourceContinue Reading
