Tag: UNITED STATES

OPEC says NOPEC bill could put US overseas assets

U.S. assets and personnel overseas could be at risk if the country decided to pass a bill against OPEC, known as NOPEC, the head of the Organization of the Petroleum Exporting Countries told member states

API shows crude, distillate stocks up, gasoline down

Crude oil and distillate stocks rose in the most recent week, while gasoline inventories fell, according to two market sources, citing American Petroleum Institute figures

Oil rises to $67, heads for weekly gain on demand hopes

Oil rose to $67 a barrel and was heading for a weekly gain as a stronger demand outlook and signs of economic recovery in China and the United States offset rising COVID-19 infections in some other major economies

EIA raises forecast for 2021 world oil demand growth

The US Energy Information Administration announced that it raised the forecast for 2021 world oil demand growth by 180,000 barrels per day (bpd) to 5.5 million bpd

Oil rebounds on robust economic data

Strong economic data from China and the United States helped to lift oil prices, recouping some of the previous session’s losses, as coronavirus-led volatility continues to dominate

U.S. oil activity jumps as executives remain wary of OPEC, Biden

Activity and spending in U.S. oil fields is soaring this year as the industry recovers from last year’s pandemic-driven oil price crash, according to cautiously optimistic energy company executives polled by the Federal Reserve Bank of Dallas in a survey

Oil demand drag takes toll on tankers, U.S. refiners

US refiners are scaling back on hiring ships for longer periods to save on costs in another sign of uncertainty over when global oil demand will return to pre-COVID levels

Oil prices rise on economic outlook, drawdown in fuel stocks

Oil prices rose on a weaker dollar as fears of rising US inflation eased while a steep fall in US fuel stocks meant a crude glut would be short-lived as refiners restart in Texas after last month’s freeze

Brent hits $70 for first time since pandemic began

Oil prices climbed above $70 a barrel for the first time since the start of the coronavirus crisis, after the US Senate passed a $1.9 trillion economic stimulus package and a Yemeni group attacked Saudi Arabia’s oil industry

Exxon scales back shale ambitions to focus on lower costs, dividend preservation

Exxon Mobil Corp is lowering its ambitions for oil and gas output, as it focuses on cutting costs and preserving dividends to win back investors that have soured on the company after years of overspending