The supply cuts out of Northern Alberta, following a surprise OPEC+ decision to not increase output next month, could add more support to the recent rally in crude prices. OPEC+ had been debating whether to restore as much as 1.5 million barrels a day of output in April but decided to wait. SourceContinue Reading

The surprise move by OPEC+ to maintain oil supply restrictions through April, coupled with Saudi Arabia’s decision to extend voluntary curbs, has stunned the global energy market. Prices surged again on Friday, with West Texas Intermediate topping $65 a barrel, and Brent climbing above $68. SourceContinue Reading

Saudi Arabia and its OPEC+ allies stunned the oil market with a decision to keep supply in check, sending prices surging and adding inflationary pressure to the global economy as it emerges from the pandemic. SourceContinue Reading

Providing more detail on Exxon’s recently-announced efforts to commercialize low-carbon technologies, CEO Darren Woods stressed that partnering with outside investors would be a key objective of. It would also mean Exxon would not need to fund large projects solely with its own cash. SourceContinue Reading

Oil surged to the highest in nearly two years after the OPEC+ alliance surprised traders with its decision to keep output unchanged, signaling a tighter crude market in the months ahead. SourceContinue Reading

Schlumberger New Energy, Chevron Corporation, Microsoft and Clean Energy Systems announced plans to develop a ground-breaking bioenergy with carbon capture and sequestration (BECCS) project designed to produce carbon negative power in Mendota, California. SourceContinue Reading

Secretary Granholm proposed a progressive agenda for energy research and innovation, to help the Biden Administration achieve net zero greenhouse gas emissions by 2050, and carbon/pollution-free energy generation by 2035. SourceContinue Reading

While the Biden administration promises to create millions of jobs on the march to carbon-neutral energy, the work that will be created won’t look, or pay, like that with which oil and gas crews are accustomed. SourceContinue Reading

To stop global temperatures from rising above 1.5 degree Celsius from pre-industrial levels, carbon prices must surge to $160 per ton of CO2 by 2030, up from a global average of $22 at the end of last year, Wood Mackenzie said in a report. SourceContinue Reading

Jennifer Granholm used her first speech as U.S. Energy Secretary to warn oil and gas companies they risk being left behind unless they embrace a transition to cleaner sources of energy, while also offering them an opportunity to partner with the new administration. SourceContinue Reading