In its November Short-Term Energy Outlook, the U.S. Energy Information Administration forecasts that rising production from OPEC+ countries and the United States will lead to global liquid fuels inventories increasing and crude oil prices falling in 2022. SourceContinue Reading
Exxon Mobil Corp. submitted bids for 94 drilling leases in shallow waters near the Texas coastline, an apparent step forward for a giant proposed carbon-capture project close to Houston’s industrial corridor. SourceContinue Reading
China is releasing some oil from its strategic reserves days after the U.S. invited it to participate in a joint sale, suggesting the world’s two biggest oil consumers are willing to work together to keep a lid on energy costs. SourceContinue Reading
Some U.S. lawmakers are seizing on the energy price surge to revive long-standing legislation that would subject the OPEC oil cartel to the same antitrust laws used more than century ago to break up Standard Oil’s monopoly. SourceContinue Reading
Spot freight rates for liquefied natural gas tankers in the Asia-Pacific have surged to record highs as a steady flow of U.S. cargoes to the region boosts demand for ships. SourceContinue Reading
Oil edged up after the Energy Information Administration said the impact of a potential release from U.S. emergency crude reserves would only be short-lived. SourceContinue Reading
The Biden administration is selling drilling rights across the Gulf of Mexico on Wednesday in an auction that will test the oil industry’s appetite amid White House efforts to shift away from fossil fuels. SourceContinue Reading
The United Arab Emirates will accelerate $20 billion of natural-gas projects by awarding contracts for some of them in the coming days, as it seeks to boost exports of the fuel. SourceContinue Reading
President Joe Biden has been weighing the merits of releasing oil from the Strategic Petroleum Reserve to try to quell gasoline prices. A release by China was raised by the U.S. during this week’s virtual summit with President Xi Jinping, the South China Morning Post reported, citing an unidentified person. SourceContinue Reading
