Friday, January 10, 2025

U.S. Tells Russia, Saudi Shale Oil Won’t Be Oil Market ‘Spoiler’

From Reuters U.S. Energy Secretary Rick Perry told oil super-powers Russia and Saudi Arabia he believed U.S. shale oil boom would not become a spoiler for oil markets because new production would be absorbed by fast rising global demand. Perry, a former governor of Texas, the heartland of the U.S. shale oil boom, was speaking at a rare joint panel

Weekly Gas Storage: Large Draws Continue

The EIA released its weekly Natural Gas Storage Report today, outlining how national natural gas stocks have changed in the last week. In total, the EIA reports natural gas stocks fell by 288 Bcf last week, dropping from 2,584 Bcf to 2,296 Bcf. This is 18.4% below the 2,815 Bcf that was in storage at this point last year, and