Tag: UNITED STATES

EIA: Non-OPEC+ countries will lead crude oil output growth in 2024

The short-term growth in global oil and liquid fuels production will be primarily driven by the United States, Guyana, Canada, and Brazil, offsetting the voluntary cuts by OPEC+, forecasted the EIA

EIA: U.S. output to increase to 13.21 million bpd in 2024

U.S. crude production will increase to 13.21 million barrels per day (bpd) in 2024, forecasted the Energy Information Administration (EIA), lowering growth expectations for pumping by 120,000 bpd

EIA: US oil output to touch a record high in 2024

U.S. crude production will hit records over the next two years but grow at a slower rate, the U.S. Energy Information Administration (EIA) said, as efficiency gains offset a decline in rig activity

EIA: Crude inventories increased by 2.9 million barrels

The Energy Information Administration (EIA) reported in its update that the average crude input to U.S. refineries was 16.5 million barrels per day

US alters rules limiting Russian oil prices

U.S.-led coalition imposing a price cap on Russian oil announced changes to its enforcement regime, which, according to the Treasury Department, will make it even more difficult for Russian exporters to evade the cap

IEA: World oil demand next year to rise faster than expected

World consumption will rise by 1.1 million barrels per day(bpd) in 2024, IEA said in a monthly report, up 130,000 bpd from its previous forecast, citing an improvement in the outlook for the United States and lower oil prices

US to cancel Alaska oil, gas leases issued under Trump

Trump’s Republican administration had issued the Alaska Industrial Development and Export Authority (AIDEA) seven leases a day before Biden’s inauguration

OPEC oil output rises in August as Iran hits 2018 high

The Organization of the Petroleum Exporting Countries has pumped 27.56 million barrels per day (bpd) this month, up 220,000 bpd from July

Exxon says world set to fail 2°C global warming cap by 2050

Oil and natural gas are still projected to meet more than half of the world’s energy needs in 2050, or 54%, Exxon Mobil Corp said, with the world failing to keep global temperature increases below 2 degrees Celsius

Goldman says oil stock draws cut bearish risk to Brent price

Goldman Sachs sees less of a downside risk to oil prices from higher-than-expected inventories, noting that lower OECD commercial stocks could add US$2 to its end-2023 Brent outlook of US$86 per barrel